A summary of points of view.

A Summary of Points of View

THE ISSUES           WHAT OPPONENTS SAY

Creating a NEW       * We may need this type of credential 20 years
Credential           from today, but not now
                     * The Big 5 don't need and won't use this type of
                     credential because the firms' names are their
                     brands
                     * Credential makes end run around regulatory
                     system needed to protect public interest
                     * CPAs "do it all" already and don't need other
                     credentials to validate competencies outside those
                     associated with the CPA license
                     * The CPA brand provides all the clout a
                     professional needs in today's marketplace
                     * Will confuse the market and ultimately diminish
                     the CPA brand
                     * If the market doesn't accept the new credential,
                     the CPA will be undermined
                     * CPAs are already too busy; they don't have time
                     to pursue and maintain other credentials
                     * AICPA is pursuing this credential to increase
                     its membership numbers
                     * The AICPA cannot afford to support both the
                     CPA and the proposed credential
                     * If CPAs want a broader credential, they should
                     get an MBA

Admitting Other      * Creates new sources of competition
Professions          * Professionalizes the competition and gives them
                     leg up over CPAs
                     * If it is created, credential should be reserved
                     only for CPAs
                     * Quality of credential holders will not be up to
                     standards of the CPA profession
                     * CPAs already have ability to outsource to
                     non-CPA or CPA firms and have extensive access to
                     expert networks
                     * Entry exam should be closed to all other
                     professionals

Spending             * Detracts from other initiatives
Member Dues          * Most CPAs are not interested in obtaining the
                     credential
                     * Funds being spent on the credential should be
                     added to AICPA advertising campaign on behalf of
                     the CPA profession
                     * CPAs are less interested in the AICPA's
                     investment in long-term strategies than in
                     immediate remedies to today's challenges
                     * AICPA cannot afford to support CPA and new
                     global credential

Developing an        * Sounds like jack of all trades and master of
Interdisciplinary    none
Framework            * No one professional can know and do everything
                     that's required

Developing a         * No assurances that AICPA funds will not be
Self-Funded          needed in future to cover revenue shortfalls
Financial            * Ability to self-support is questionable
Structure            * There is no hard evidence that market will
                     accept the new credential
                     * Risk of failure jeopardizes the financial future
                     of the AICPA

THE ISSUES           WHAT ADVOCATES SAYS

Creating a NEW       * This is a long-term strategy and to
Credential           ensure we are first to market we must start now
                     * Most CPAs have created successful personal
                     brands, but the CPA brand is largely viewed as
                     attest and tax
                     * License restricts ability to stretch CPA brand
                     to cover all services individual CPAs provide
                     * CPA/global business credential would signify
                     depth of knowledge in finance plus breadth of
                     knowledge across a broad range of disciplines
                     * Market has been too slow to recognize true scope
                     of profession's services; 85% of CPAs don't do
                     audits
                     * CPAs remain premier financial expert; research
                     suggests credential helps emphasize strategic
                     skills
                     * The proposed credential carries the risk, while
                     CPA brand stays protected and intact
                     * The credential infrastructure would accommodate
                     compressed schedules of today's professionals
                     * Credential holders would be members of new,
                     separate institute and not of the AICPA
                     * AICPA will continue to support CPA brand;
                     new global institute would support new credential
                     * MBA quality differs based on university, does
                     not require work experience or mandate CPA values

Admitting Other      * Competition already exists outside core services
Professions          * CPAs set the rules by which all credential
                     holders must abide (ethics, lifelong learning,
                     etc.)
                     * Credential is not a rebranding of the CPA; it
                     defines a larger professional services footprint
                     * Admission exam to be as psychometrically
                     stringent as the CPA exam, but not focused on A&A
                     * Creates unprecedented worldwide knowledge
                     resource and networking opportunities, which may
                     not be otherwise available to smaller firms
                     * Preempts non-CPAs from creating new hurdles for
                     CPAs and taking lead in strategic knowledge area

Spending             * Development funds less than 2% of AICPA budget
Member Dues          * More CPAs are interested in credential than in
                     any other AICPA accreditation now offered
                     * AICPA ad dollars for CPA at all-time high, with
                     $25 million for new recruiting program; R&D funds
                     needed to build opportunities for tomorrow's CPAs
                     * Research shows credential could significantly
                     increase the number of students attracted to the
                     CPA profession
                     * Credential will be self-funded soon after launch
                     and AICPA will have no ongoing obligations

Developing an        * Market demands strategists who can apply
Interdisciplinary    knowledge from multiple disciplines
Framework            * Candidates don't have to know it all, but need
                     an effective knowledge of other disciplines

Developing a         * Global institute is designed to be self-funded
Self-Funded          soon after launch; AICPA not obliged to cover
Financial            shortfalls
Structure            * Strategic alliances/member fees will finance
                     growth
                     * Market data indicates businesses would pay
                     premium to credential holders
                     * Once created, the new Global institute would
                     assume funding responsibility and all financial
                     risks