Council votes overwhelmingly to support global credential.Board of Directors Asks AICPA AICPA See American Institute of Certified Public Accountants (AICPA). Members to Adopt Proposal At the governing Council's much-anticipated meeting last month where it could decide to continue or halt efforts on the proposed new global credential, the Council overwhelmingly supported moving ahead with development of the credential and reaffirmed the proposal be brought to the full membership for a vote. Earlier, the AICPA Board of Directors voted unanimously to recommend Institute members approve the proposal. Specifically, Council accepted a resolution presented by the Colorado Society of CPAs calling for Council to state its support for the global credential initiative and resulting bylaw by·law n. 1. A law or rule governing the internal affairs of an organization. 2. A secondary law. [Middle English bilawe, body of local regulations; akin to Danish amendment. After lively discussion and spirited debate on reasons for and against the credential, Council voted 157 to 62 (nearly 72%) in favor of the resolution. Thus, a member referendum has been mailed to members asking them to approve a bylaw change that would explicitly recognize the Institute's authority to create a new, self-funded organization to grant an interdisciplinary global credential in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Among the many reasons cited for moving forward, the one that resonated most with the vast majority of Council members was that the credential was good for future generations of CPAs. Council also considered the results of a statistically valid member survey, which was conducted in Sept. by an independent research firm under the supervision of the AICPA and three state society representatives. The survey's results show a majority of members would vote to create the credential. Members' ballots must be received by an independent tabulator A punch card accounting machine that calculates totals and prints the results. Since the late 1800s, tabulators were used to accumulate totals and were later capable of printing. Countless invoices, checks and green-striped reports were printed on tabulating machines all the way up into by Dec. 28 to be counted. A two-thirds majority of those voting is required for the measure to pass. Council also heard a presentation on the credential name chosen by the Global Credential Steering Committee steer·ing committee n. A committee that sets agendas and schedules of business, as for a legislative body or other assemblage. steering committee Noun , the international consortium developing the proposal. The name, International Institute of Strategic Business Professionals (IISBP) was created through an extensive process with input from many important constituencies and was selected from among hundreds of alternatives. The initials IISBP would signify both the credential and membership in the credential-granting organization. For more information on the credential's name, the most recent member research effort and the upcoming ballot, see page 3 of this newsletter. Among other actions at its Oct. 22-23 meeting, Council: * Elected James G. Castellano of Missouri as chair of the AICPA Board of Directors for 2001-2002 and William F. Ezzell Jr. of the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). as vice chair. * Discussed professional issues with the new chairman of the Securities and Exchange Commission, Harvey L. Pitt. Pitt's speech and answers to Council members' questions afterward af·ter·ward also af·ter·wards adv. At a later time; subsequently. Adv. 1. afterward - happening at a time subsequent to a reference time; "he apologized subsequently"; "he's going to the store but he'll be back here clearly indicated a new spirit of cooperation between the SEC and accounting profession. * Heard an update on CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. 2Biz, the profession's business services hub. * Was updated on the Auditing Standards Board's response to the Public Oversight Board Panel on Audit Effectiveness. * Received an update on computerization com·put·er·ize tr.v. com·put·er·ized, com·put·er·iz·ing, com·put·er·iz·es 1. To furnish with a computer or computer system. 2. To enter, process, or store (information) in a computer or system of computers. of the Uniform CPA Examination, slated to take effect in Nov. 2003. * Heard an update on the new student recruitment campaign, scheduled to launch later this month, that will target 16-22 year olds to boost their interest in accounting and pursuing the CPA designation. * Presented the AICPA Gold Medal gold medal traditional first prize. [Western Cult: Misc.] See : Prize for Distinguished Service to Thomas W. Rimerman of California. Among his accomplishments, Rimerman was chair of the AICPA Board of Directors 1990-1991, pushed for and obtained congressional approval of the Federal Financial Management Act of 1990, chaired numerous committees that charted the profession's future, and has published more than 50 articles on accounting, tax, financial and regulatory subjects. |
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