What are the AICPA and CIMA doing?Posted: November 9, 2015
The AICPA and CIMA are proposing to join forces to create a new accounting association while continuing to operate the membership bodies their communities have long trusted. Together the two organizations would significantly enhance their advocacy, member employability and abilities to advance the accounting profession around the world. But what does this really mean?
What stays the same:
- Member affiliation; AICPA members will still be served by the AICPA
- Commitment to protect, promote and grow the CPA
- Continued strong support of CPA core including audit, financial reporting and tax
- Commitment to CGMA and specialty credentials
- Commitment to ethics, quality and protecting the public interest
- Council bodies. Council continues to exist and play its governance role.
What the proposal does:
- Integrates AICPA’s and CIMA’s strategies, management and operations
- Creates Association of International Certified Professional Accountants, which is the name of the existing joint venture.
- Recognizes and supports public and management accounting as critical parts of a unified profession
- Represents more than 600,000+ current and next generation professionals in the U.S. and worldwide to provide an even stronger voice in advocacy efforts
- Creates efficiencies to deliver better and more relevant member resources
- Elevates the unique and complementary roles of CPAs and CGMAs everywhere
The reality in today’s world is that we must evolve to keep the profession sustainable, relevant and vibrant for the future. As B&I CPAs we have already brought our core values of quality, competency and integrity to the entire financial system and this effort will further support those endeavors. This doesn’t mean we are losing anything; our American Institute of CPAs will remain committed to promoting and protecting the CPA. It simply builds on the partnership with CIMA that has already shown great success, and I believe together we will be able to achieve even more.
You can find out more about what is going on in the profession here.