1917 First Federal Reserve accounting bulletin. The booklet makes recommendations on audit procedures and financial statements. In the same year The Institute library endowment fund develops. The national organization's governing council approves eight rules of professional conduct. The ethics committee demonstrates its intention to enforce the rules by suspending two members for knowingly certifying improper balance sheets.
Council approves a model CPA law.
1920 CPA organization gets new headquarters. 1921 Profession becomes integrated. The first African-American CPA, John W. Cromwell, Jr., passes the CPA exam in New Hampshire. He becomes a mentor to others. In the same year The Accountants' Index is created.