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Washington (May 20, 2013) – In response to growing demand, the governing council of the American Institute of CPAs today approved a measure allowing the Institute to offer its specialized credentials in forensics, business valuation, technology assurance and financial planning outside the United States.
The vote gives the AICPA’s board of directors the authority to make available the Accredited in Business Valuation (ABV), Certified in Financial Forensics (CFF), Personal Financial Specialist (PFS), and Certified Information Technology Professional (CITP) credentials through non-U.S. accounting bodies. Those organizations must have stringent codes of conduct and eligibility requirements and have sufficient national or international stature to maintain the integrity of the credentials. Professionals who hold the AICPA’s credentials outside the U.S. must meet rigorous criteria set by the National Accreditation Commission and at all times remain in good standing with the relevant accounting organization.
The decision comes as clients and employers increasingly seek specialized skillsets to tackle issues made more complex by technology and the pace of globalization. Accounting organizations around the world are working to respond with the knowledge and certifications necessary to meet the need.
“The AICPA recognized the trend toward specialization more than two decades ago and has built a robust body of knowledge across practice areas along with credentials that signify the highest level of proficiency,” said Anthony Pugliese, CPA, CITP, CGMA, senior vice president and chief operating officer of the AICPA. “With this vote, we now have the opportunity to drive broader awareness for some of the profession’s most demanding credentials while also leveraging those activities to create global opportunity for U.S. CPAs.”
Pugliese said the AICPA is initially exploring making the credentials available to members of the Chartered Institute of Management Accountants, its joint venture partner on the Global Chartered Management Accountant designation. It is also exploring a pilot program focusing on forensics and IT with the Chartered Professional Accountants of Canada. It could begin as soon as the fall, but details must still be worked out and approved by both organizations. The idea is to develop credentials that are recognized throughout North America.