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Colleen Katz

Managing Editor
Elizabeth Uva

Senior Editors
Katharine W. Coveleski
Peter D. Fleming
Michael Hayes
Raj Rangarajan
Robert Tie
Cynthia Waller Vallario
Stanley Zarowin

Assistant Editors
Sarah Cobb
Vincent Nolan

Contributing Editors
Maria Luzarraga Albanese
Anita Dennis
Nicholas J. Fiore
Lesli S. Laffie
Barbara J. Shildneck

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Peter M. Tuohy 

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Jeryl A. Costello

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Gene Cioffi

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D. Hillel Lofaso

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Patricia L.Arrington

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Thomas R. Greve

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Highlights

KATHY EDDY DEFINES STRATEGY AT INAUGURAL

In October Kathy G. Eddy assumed the chairmanship of the AICPA board of directors, succeeding Robert K. Elliott.

In her inaugural speech Eddy outlined her concept of the AICPA as the “professional home” to every CPA and added, “As far as I’m concerned, the letters ‘A’ and ‘I’ that start our name have a second—and perhaps even more important—meaning. They stand for ‘All Inclusive.’ That means CPAs of every ilk—young and old; men and women; in government; in industry; in small, medium or large firms; in education.”

Eddy urged her vast constituency of CPAs to accept challenges and embrace change. “Be a steward of change. Pave the way for your professional heirs. Ours is a noble profession. People benefit because this profession exists.”

A former president of the West Virginia Society of CPAs and the West Virginia Board of Accountancy, Eddy called on the members of the AICPA and the state CPA societies to work closely to realize the objectives of the Vision Process, a long-range effort to reposition the accounting profession.

“The Vision is our blueprint for survival and service for the early part of this century,” she said. “We are now taking that Vision and drilling down to where CPAs live and breathe.”

The Eddy acid test

For determining what projects she will support in her year as chairman, Eddy has devised an “acid test.” Projects and initiatives must meet certain criteria to pass it. First, they must be for all members and must enhance the profession and the public it serves. Second, the projects must be aligned with the Vision. And third, because she regards herself as a steward of the AICPA and the profession, they must “ensure that the Institute remains fiscally sound.”

Eddy, who served as cochairman of the Institute’s national steering committee for regulation of the profession, wants to ensure the profession continues to regulate and discipline itself. “We are one of the most trusted professions in the world,” she said, “and our diligence in self-regulation has contributed largely to that trust.”

In discussing initiatives stemming from the Vision, she focused on the task forces that have been formed to look at the profession “with eyes wide open in the bright light of 21st century realities.” One of these task forces will help members discover new uses for technology.

Eddy, who is concerned about the “horrific decline in the number of students choosing to become CPAs,” said another task force is developing an AICPA-sponsored student internship program.

Highlighting her support for the cpa2biz portal, she said that it “will even the odds” for CPAs in small firms and companies.

Eddy is a shareholder in the accounting corporation of McDonough, Eddy, Parsons and Baylous, A.C., in Parkersburg, West Virginia.

Editorial Advisers

Andrea Andrews, Kenneth D. Askelson, James Bean, Robert C. Beheler, John C. Boma, Jacob R. Brandzel, Steven J. Brown, Jolene C. Brucks, J. Gregory Bushong, Carolyn Callton, R. Patrick Cargill, Benson J. Chapman, Susan M. Comeau, Rosemarie T. Dunn, Sandra English, Robert J. Freeman, John S. Gibbons, Alan Glazer, Dan Gould, Cindy J. Gustafson, Patrick T. Hanratty, Thomas P. Hess, James E. Hunton, Harold Wayne Joseph, Christopher G. Keller, Frank J. Kopczynski, Jeffrey B. Kraut, Dennis B. Kremer, Daniel Laufer, William F. Laurie, Alan Levin, George Lewis, John Lewison, Joseph P. Liotta, Ellen M. Long, James V. Long, Mano Mahadeva, John Malthouse, Benjamin F. Mathews, Patrick Michael McDonough, Anita Meola, Debra Mitchell, Robert R. Moeller, Roger H. Molvar, G. Philip Morehead, Bea L. Nahon, Lyne P. Noella, Edward T. Odmark, Stanley Person, Grover L. Porter, Mark L. Richardson, Wesley Riemer, David B. Robinson, Ed Rockman, Marshall B. Romney, David Satava, Peggy Scott, Gary Shamis, Jeffrey D. Solomon, Ivan J. Sotomayor, Mark Spofforth, Paul C. Sullivan, Keith Tobias, Gary R. Trugman, Robert Willens, Jon Arthur Wise, Mark A. Yahoudy