The AICPA believes that it is acting in the best interest of CPAs by recognizing that technology is reshaping the economy and the rules of the profession. Many professionals laugh at the sound of the name, "Cognitor," but the proposed new identifier for CPAs and other financial professionals is anything but funny to Michael Rosedale, founder of CPAdirectory.com, and others who object to the name and the concept for which it stands.

"This is not a rebranding of CPAs," says AICPA senior vice president John Hunnicutt, who has debated Rosedale on this issue several times. "We're talking about a new and distinct global designation which will be an option to CPAs...This is all based on the notion that a person capable of holding this will be able to enhance his economic future and that the market will be willing to pay a premium for this kind of ability."

If the AICPA approves this new designation during its scheduled May meeting, members could vote on the proposal by late summer. And while the AICPA's Hunnicutt says that the idea is still in the research-and-refinement stage, Rosedale and other CPAs insist that the goal of the powerful organization is simply to ram it through.

For more details and the full story, visit newsday.com.