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Online Issues > June 2001 > Publisher's Information
| JUNE 2001 VOLUME 191, NUMBER 6 | ||
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Highlights COUNCIL VOTES TO CONTINUE XYZ DEVELOPMENT During its spring meeting, the AICPA governing council approved a proposal from the state societies of California and Texas to set up a communications program that would improve members’ understanding of the contemplated XYZ global credential and solicit their comments on whether and how development of it should proceed. An AICPA official in attendance said the “voice” vote on this issue overwhelmingly favored the resolution. Earlier in the session, council rejected—by a 152-to-41 “show of hands” vote—a New York state society-sponsored resolution to halt work on the proposed credential. The meeting also provided XYZ’s sponsors with an opportunity to deliver new information to council, including new research on the business community’s interest in and need for such a designation, a business plan for the establishment and operation of a “global academy” that would administer the credential and a revised strategy for the thus far difficult task of naming the credential. An important issue—whether the credential should be voted on in a member referendum—remains unresolved, however, pending further analysis and increased member participation in the decision-making process. In response, council authorized a member communications program, which will gather member feedback to help decide whether an XYZ referendum is needed. By the time council meets in October, the new communications program will have given members more information about the credential and its potential impact on them, their clients and employers, and members will have had sufficient time to express their support for or opposition to the credential through AICPA- and state society-sponsored surveys. At the fall meeting, council will use this member feedback to determine whether the referendum should proceed. Before council voted on the credential’s merits, a panel discussed the issues surrounding the credential. Three members—the presidents of the Illinois and New York societies and the managing partner of a Group B firm—argued against the credential. The president of the Indiana society, a member of the AICPA board of directors and Robert K. Elliott, past chairman of the AICPA, spoke in its favor. AICPA RECRUITING INITIATIVE AIMS AT GENERATION Y Students age 16 to 21 are the target audience for a new AICPA recruitment program intended to increase their awareness of and positive feelings toward the profession. The AICPA has allocated $25 million to fund the program over the next five years. It will rely heavily on the Internet and other interactive media to deliver its message. Early indications are that state societies also want to participate in the campaign. The new plan responds to indications that the accounting profession has become less attractive to young people. In 2000 only 2% of college students majored in accounting, down from 4% in 1990, and only 1% of high school students were planning to major in accounting, compared with 4% ten years earlier. Researchers have found that college accounting students often feel the curriculum is insufficiently progressive and switch to another course of study. And even when students complete their baccalaureate work, get a job and move on to graduate school, many become disillusioned by their firms’ lack of career support and leave the profession. The Institute hopes this investment will help reverse young people’s declining interest in accounting, increase the number of CPAs entering the profession in the next several years and gradually persuade colleges and universities, public practice firms and members in business to align themselves with the CPA Vision, the grassroots effort that defines the profession’s future. |
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Editorial Advisers Lonnie Arnett, Kenneth D. Askelson, James Bean, Robert C. Beheler, John C. Boma, Jacob R. Brandzel, Steven J. Brown, Jolene C. Brucks, Linda Burt, J. Gregory Bushong, R. Patrick Cargill, Benson J. Chapman, Susan M. Comeau, Rosemarie T. Dunn, Thomas Emmerling, Penny A. Flugger, Robert J. Freeman, John S. Gibbons, Alan Glazer, Patrick T. Hanratty, James E. Hunton, Christopher G. Keller, Frank J. Kopczynski, Jeffrey B. Kraut, Dennis B. Kremer, William F. Laurie, Alan Levin, George Lewis, John Lewison, Joseph P. Liotta, Mano Mahadeva, Benjamin F. Mathews, Charles R. McCann, 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, Lawrence Piano, Mark L. Richardson, Wesley Riemer, Ed Rockman, Marshall B. Romney, David Satava, Peggy Scott, Carolyn Sechler, Gary Shamis, Jeffrey D. Solomon, Ivan J. Sotomayor, Alan Steiger, Paul C. Sullivan, Keith Tobias, Gary R. Trugman, Robert Willens, Jon Arthur Wise, Mark A. Yahoudy |
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