More States Weigh in on Proposed Global Credential
Two more states have been heard from regarding their position on the AICPA's proposed global business credential, formerly referred to as "XYZ" and recently named Strategic Business Professional (IISBP). The Washington CPA Society joins the pro side of the debate, while Connecticut reinforces its position on the con side.
The current tally of state CPA societies that have taken a stand on this issue is six for and eleven against.
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The Board of Directors of the Washington Society of Certified Public Accountants (WSCPA) has voted 9 to 6 in favor of supporting the global credential.
In a notice posted on the WSCPA Web site, the Board states its desire to not impose its opinion on members of the Society and encourages all members to read the documentation on the credential and form their own opinions before voting.
The WSCPA presents a Voters' Guide on its Web site, explaining positions both for and against the credential in an effort to inform its members of the controversy that has been brewing for nearly a year.
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Meanwhile, the Connecticut Society of Certified Public Accountants (CSCPA) has sent a mailing to all of its members urging them to vote against the global credential
The text of the mailing, which was duplicated in an e-mail message to members, reads as follows:
Dear CSCPA/AICPA Member:
The Board of Governors of the Connecticut Society of Certified Public Accountants (CSCPA) voted to recommend that CSCPA members who are also members of the American Institute of CPAs (AICPA) reject the proposed bylaws amendment being mailed to its members by the AICPA. If approved by two-thirds of AICPA members who vote, that bylaws amendment would authorize the AICPA to develop a new global business credential for qualified CPAs and others who are not CPAs. Citing information to the effect that it believes that the majority of CSCPA members oppose the AICPA's actions, a majority of the Board voted to recommend opposition to the bylaws amendment.
Michael R. Redemske, CPA
For more information about the proposed global credential, including a link to a downloadable ballot on which you can cast your vote, visit AccountingWEB's 'XYZ' Global Credential Resource Center.