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New AICPA/CIMA International Accounting Association

New AICPA/CIMA International Association

Over the weekend, the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA) approved the creation of a new international accounting association that will integrate operations and represent the entire accounting profession. But the membership bodies of both organizations will remain separate. 

We would like to know your thoughts on this partnership being taken to the next level. Is this a good thing for the future of the accounting profession? If you are an AICPA member, what, if anything, does the creation of this new association mean to you?

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Jun 29th 2016 18:39

They're not the only ones. Word reached us in the UK this week that the Association of Certified Chartered Accountants (ACCA) has formed joined with Chartered Accountants Australia and New Zealand (CA ANZ) to form a global alliance with 788,000 members.

Within a matter of barely two weeks, we've just seen the hierarchy within the profession globalize itself into two massive camps. There are other national bodies outside of those alliances that might start feeling a little lonely when confronted by the giants.

I'd make the point that cross-border cloud accounting has already been burrowing away at the foundations underpinning national bodies, most of which have been wrestling with slowing growth in recent years.

But how relevant will global mega-alliances be to ordinary CPAs? They seem to be focusing on a Risk-like game for global prominence at a time when how they act locally is probably more important to their members.

Conversations about the relevance of ACCA and other professional bodies frequently appear on our UK site AccountingWEB.co.uk.

I wonder if there's the same level of unease among AICPA members?

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