Highlights of Council's Fall Meeting.

Among other actions at its meeting on Oct. 23-24, the AICPA governing Council:

* Elected Kathy G. Eddy of West Virginia as chair of the AICPA Board of Directors for 2000-2001, and James G. Castellano of Missouri as vice chair.

* Overwhelmingly passed a resolution that supports the AICPA's continued involvement in the proposed new global credential being developed by an international consortium of accountancy institutes and indicates its intent to authorize a membership ballot at its May 2001 meeting (The CPA Letter, Oct.). The resolution voted on was not the one crafted by the Board of Directors, but one offered by the Ohio delegation. Among other differences, it calls for the continued support, promotion and enhancement of the CPA credential and the CPA profession; preparation of a business plan that includes market research results and an analysis of the implications for student enrollments; and establishment of a separate organization (instead of a wholly owned subsidiary) or affiliate to be the member organization for the new credential. Council voted in favor of the resolution after several past chairs and a number of state society presidents discussed the profession's responsibility to offer future CPAs a relevant, viable, rewarding career.

* Heard a report on a recent research effort focusing on causes for a downturn in the number of students majoring in accounting and becoming CPAs and identifying the means to reverse this trend. Also heard about a study that identifies changes in business that affect accounting education and emphasizes the need for accounting curriculum reform.

* Watched a video presentation on financial markets in the 21st century, given the ever-growing importance of the Internet and its affect on the economy.

* Was updated on the Internet portal project in detail and on the XBRL initiative.

* Held educational sessions on self-regulation in the New Economy.

* Presented AICPA Gold Medals for Distinguished Service to Richard E. Piluso of New York and to Dominic A. Tarantino of Connecticut. Piluso's dedicated leadership to the profession throughout his career involves a broad array of activities in the AICPA and in other accounting organizations, as well as in his state CPA society. Among them, he served as vice president and treasurer of the AICPA Board of Directors and as a long-time member of the governing Council. Tarantino's many contributions to the profession include chairing the Tax Division Administrative Committee, the Accounting Research Association, the AICPA Foundation and the National Accreditation Commission. He also served on the AICPA Board of Directors.