AICPA Council Votes to Support Global Credential

The governing Council of the American Institute of Certified Public Accountants (AICPA) overwhelmingly supported, by a vote of 157 to 62 (71.7 percent), the development of the proposed new global credential at its fall meeting this week.

The member referendum, which will be mailed October 29, 2001, asks members to vote on a change to the AICPA bylaws that would explicitly recognize the Institute's authority to create a new, self-funded organization to grant an interdisciplinary global credential in the United States, on behalf of the International Institute of Strategic Business Professionals (IISBP). Completed member ballots must be received by December 28, 2001. Approval of the proposal by two-thirds of those members voting is necessary for adoption.

In accordance with a resolution passed by Council at its May meeting, the AICPA has conducted a member information and response program about the proposed credential. Over the past five months, the AICPA sent two mailings to the entire membership and has provided extensive background materials, including pro and con viewpoints. The AICPA also provided presentations and speakers for hundreds of member forums and debates across the country.

The new credential, developed by an international consortium of professional accounting organizations, would complement existing business and professional designations. Through third-party validation, exacting ethical and competency standards, access to a worldwide knowledge resource, and mandated continuing learning, the credential would increase holders' business opportunities and enhance their value to clients and employers. Marketplace research demonstrates growing demand for such a credential.

For more information the global credential, including transcripts of open forum debates on the issue, go to AccountingWEB's Global Credential Resource Center.

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