Members vote down bylaw amendment: leadership promises to use findings to reinforce profession's value and reputation. (just in ...).

Members of the AICPA have voted down a proposed bylaw change that would have enabled the "granting of an interdisciplinary global credential by an affiliated entity to qualified persons who seek to obtain it," with 62.7% voting against and 37.3% voting in favor. Approximately 134,000 or 39% of all members cast ballots. Approval by two-thirds of the members voting was necessary for the initiative to move from exploration to implementation.

"We believe we took the right course by putting this decision into the hands of the members. The members have spoken and we will not move forward with this initiative," said Barry Melancon, AICPA CEO and President. "Although many CPAs did not see this credential as the solution to issues they are facing, numerous members and state CPA societies were actively involved in the debate. We have learned a great deal from this dialogue, and we will use this knowledge to find new solutions.

"The member, market and student research that was conducted throughout this exploratory process provided valuable data that the AICPA can use to sharpen its focus and take actions designed to extend and reinforce the reputation of the CPA profession," continued Melancon. "For example, the research into the attitudes of students revealed that understanding the CPA Vision significantly increases student interest in obtaining a CPA, from 4% of all college students to 11%. This and other findings from the student research gave us a solid foundation for the recently launched $25 million campaign aimed at helping students better understand the career opportunities offered by the CPA profession."

The intensive discussion about the credential focused CPAs' attention on how to maintain and extend the profession's value in the business and financial community. During the debate, members voiced concerns about the increase of non-CPAs in professional services, the gap between public perceptions and the day-to-day realities of what a CPA does, and the declining number of students entering the profession. "I for one am proud to be a part of a profession so passionately engaged in exploring ways to maintain its value and to adapt to the profound changes that are taking place in the marketplace" concluded Melancon.

Both Melancon and AICPA Chair James G. Castellano stated strongly that the AICPA will work to address issues raised by members and remain fully committed to the core values and services that are the hallmarks of the CPA profession. "The leadership of the Institute has a rock solid commitment to fulfill our mandate to protect the public interest in the audit and financial reporting environment," said Castellano. "At the same time, we fully recognize how important it is for us to help CPAs deliver traditional as well as leading-edge services"

The AICPA was part of an international consortium of professional accounting organizations studying the development of a new global business credential characterized by its breadth of knowledge, strategic focus and professional rigor. The concept for the credential originated two years ago with the AICPA's Strategic Planning Committee's deliberations on how best to help the profession realize the full potential of the CPA Vision.