Why We Oppose the Proposed Global Business Credential

Only a complete understanding of XYZ will result in an intelligent vote. Our relationship with the AICPA has been a good one W and we want it to continue in the future. Our intention here is not to criticize but to clarify the information being disseminated to the AICPA members who will be voting on probably the most critical issue facing our profession in many, many years. Is XYZ good? Is XYZ bad? Only an informed constituency, enlightened by the proper pros and cons dealing with this situation, will allow an intelligent vote on this critical matter. While we, and the National Conference of CPA Practitioners (NCCPAP), will continue working toward defeating XYZ, we want to continue the dialogue so that, as we said previously, the voting membership will have a clear understanding of both points of view. We are looking at the "majority" of the membership of the AICPA who really do not understand the effect the global credential will have on their profession. This is where we hope both sides will come together and concentrate on a true understanding so that the voting will be based on knowledge instead of ignorance. We believe that if anyone should be a global credential holder only, CPAs should be the designee. CPAs have passed rigorous exams and have the highest education and experience in financial matters. We are qualified to be global credential holders if you truly read the definition of a designee. We deal with every conceivable financial situation on a daily basis. In local firms, we are the right arm of small business entrepreneurs. In larger firms, we are the consultants for major national and international industries. There is absolutely no reason why everything financial that must be done for a client should not go through a CPA firm. THE CPA DESIGNATION HAS SOLID CREDIBILITY The CPA designation has already been set, it is 100 years old and has the utmost respect behind it. It should be used and not discarded. After we become CPAs, our education requirement continues. We are constantly reading material on the current position of the profession and the world economy as well as on what is considered to be the future innovation and thinking for this world economy. We are considered experts by our clients, bankers and other third parties. We have multidisciplinary services already included in our firms, even though we do not consider them separate services or call them by their true name. If at any time situations arise in which we need help, we outsource to qualified nonCPA or CPA firms who are experts in that particular area. Finally, if the 150-hour rule for education is applied properly and accounting education changes to teach different disciplines, college students now and in the future will learn exactly what the global credential is trying to create--the true knowledge expert who is well organized and able to get things done properly. This individual is currently known as a CPA. STATE VS.  The new global credential will not be a state license and, therefore, will not be subject to a state licensing disciplinary committee. We are worried that the AICPA will be the only reprimanding agency in the United States for this new designation and it remains to be seen how the disciplinary actions will be handled around the world. We cannot agree now on worldwide politics. Why would this coalition agree on disciplinary and reprimanding action? It puts unequal burdens on CPAs who already have many layers of discipline through their state licensing agency, state societies, AICPA, other government agencies, etc. Why have another organization that has the authority to discipline but not the right to revoke the CPA license? Currently, each state is having problems passing different aspects of the Uniform Accountancy Act. The AICPA says this is because it is very difficult to change 54 different jurisdictions. Yet, it is still better to allow states to administer the discipline than a global organization which has no idea how to practice in this country. …

Field of study: Business