AccountingWeb has learned that the American Institute of CPAs plans to propose a value-added designation called 'cognitor,' on behalf of the accounting profession. The announcement was made during the AICPA's State CPA Society Interchange Conference, held in Tucson July 19-21.
Based on research and development, the new name is designed to talk to issues about thought and knowledge, and to enlarge the CPA's skill set. It reflects that the knowledge owned by a CPA could is more useful and important than mere data itself.
AICPA plans to present the new designation at its fall Council meetings.
The new name follows the lead of other radical changes occurring at AICPA, such as the proposed, global 'XYZ' designation. The new designation is designed to be effective on an international level to signify expert abilities in financial-oriented knowledge, and already has the support of many other CPA-related organizations. Sources say that activities like the 'cognitor' and 'XYZ' designations are a direct result of the recent CPA Vision.
The debate will rage on . . .