NC CPA Association President Says: 'Vote NO on XYZ'

William H. Watson, Jr. the President of the North Carolina Association of CPAs, has sent a heartfelt letter to all members of the association emphatically asking them to vote "NO" on the issue of the AICPA's proposed global business credential, recently named Strategic Business Professional (IISBP).

The letter points to what Mr. Watson feels is misleading information accompanying the AICPA ballot, due to be received this week by all of the AICPA membership. "The information you will receive with the ballot will state that 71% of the AICPA Council voted in favor of XYZ. While I can assure you that 71% of the members did vote to support the bylaw amendment, it was clear from talking to other members of council that some members thought the vote was on sending the ballot to the membership - not on support of XYZ."

Mr. Watson cites the following reasons for encouraging members to vote against the proposed global credential:

  • "NCACPA’s board believes that it is inappropriate to bring non-CPAs into the credential and to give them equal standing to the CPAs pursuing the credential, a move that would essentially empower millions of non-CPAs to compete at the same level as CPAs.
  • The proposed credential is in direct conflict with the CPA Vision Project that states, 'CPAs are the trusted professional advisors who enable people and organizations to shape their future.'
  • NCACPA disagrees that the CPA brand cannot be stretched any further and feels that the resources needed to promote the global credential would be better spent increasing the value of the CPA brand.
  • We feel strongly that student recruitment is a higher priority than the global credential and a much better use of AICPA staff resources and members’ dues dollars."

So far, eleven states have weighed in against the proposed global credential, while five have indicated they favor the credential. You can see the tally of state societies that have taken a position on the credential, and read news and information about the credential at AccountingWEB's 'XYZ' Global Credential Resource Center.

You may like these other stories...

Recently, there has been a lot of buzz about the future of continuing professional education (CPE). The American Institute of CPAs (AICPA) created a task force on the Future of Learning with an accompanying fancy website. In...
Accountants who specialize in forensic and valuation services point to electronic data analysis, or big data, as the most pressing issue they’ll face in the coming months, according to results of a new survey released...
The American Institute of CPAs (AICPA) sent two letters to IRS Commissioner John Koskinen – one on May 21 and another on June 24 – asking that the tax-collection agency not put in place a voluntary education...

Upcoming CPE Webinars

Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.