California CPA Society Recommends Voting 'NO' on XYZ

The California CPA Society (CALCPA) Council met last week and, among other topics, discussed its support or lack thereof for the AICPA's proposed global business credential, referred to until recently as "XYZ" and now called IISBP or Strategic Business Professional.

Presentations for and against the proposed credential were given by Barry Melancon, AICPA President and CEO, and Kendall Wheeler, CALCPA board/council member, respectively.

Council members then voted 13% in favor of the credential, 3% neutral, and 84% opposed. The council decided to inform the CALCPA membership that the council's advice is that CALCPA members should vote "No" on the proposed change in the AICPA bylaws that will authorize the AICPA to create a new organization with the authority to grant an interdisciplinary global credential on behalf of the International Institute of Strategic Business Professionals (IISBP).

Eleven other states have taken a stand against the global credential and five states have thusfar announced support of the credential. See the state tally and read all about the proposed credential at AccountingWEB's 'XYZ' Global Credential Resource Center.

You may like these other stories...

Optimism about the US economy continues to grow among CPAs and financial executives, and with that, more companies are expecting to increase hiring in the near future, according to results of a new survey released by the...
Planning has begun to determine the content, design, and structure of the next version of the Uniform CPA Examination – and the American Institute of CPAs (AICPA) is asking the accounting profession for its feedback on...
In a letter sent to Congress last week, the American Institute of CPAs (AICPA), the Virgin Islands Society of CPAs (VISCPA), and the Guam Society of CPAs (GSCPA) sought clarification regarding net investment income tax (NIIT...

Already a member? log in here.

Upcoming CPE Webinars

Oct 22This webinar will include discussions of important issues in AU-C 800, Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks.
Oct 23Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.
Oct 30Many Excel users have a love-hate relationship with workbook links.
Nov 5Join CPA thought leader and peer reviewer Rob Cameron and learn ways to improve the outcome of your peer reviews while maximizing the value of your engagement workflow.