AICPA and The Chartered Institute of Management Accountants (CIMA) have been working together since 2011 in response to professional and global shifts in accounting. The two organizations now are taking their joint venture a step further by proposing a new accounting association representing the entire accounting profession while maintaining their respective membership bodies.
In other words, members of the AICPA will remain members of the AICPA. Members of the AICPA as well as members of CIMA automatically will be members of the new association, called the Association of International Certified Professional Accountants, without additional membership fees.
A membership ballot has been authorized by the AICPA Governing Council, and AICPA members can vote on the proposal through 5 p.m. EST, June 16. In order to fully understand the joint venture proposal, your FICPA Board of Governors received a full presentation from AICPA leadership at its board strategy session. Following its thorough review, your board supports the proposal and is encouraging AICPA members to vote “yes.”
The accounting pipeline is full and our CPA brand is strong. But technological, international and other trends are dramatically reshaping the business environment. The world is more connected. The next generation has different expectations for their careers. Around the world, regulators are adopting rules with implications far beyond their borders.
We need to act now to keep the accounting profession indispensable and relevant. This proposal responds to these trends –
- Providing a stronger voice against onerous regulations that are increasingly originating overseas and do not protect the public interest;
- Creating a broader platform to reach the next generation and combat the growing worldwide talent shortage; and,
- Providing more resources needed by finance professionals to differentiate themselves from their peers in our rapidly changing, interconnected world and emerging global markets.
AICPA Mission Not Changing
The AICPA will continue to do what it has done for more than 128 years. It remains committed to promoting and protecting the CPA, our profession and its foundation of quality and ethics. You still will be a member of the AICPA as it continues to:
- Be led by CPAs and advocate for the public interest on behalf of the CPA profession;
- Develop and grade the CPA Exam; and,
- Monitor and enforce compliance with the profession’s technical and ethical standards.
AICPA members also will continue to receive existing AICPA member benefits. In fact, those resources are expected to expand.
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