chair's corner.

• Author: Eddy, Kathy G.
• Position: American Institute of Certified Public Accountants - Brief Article

The governing Council will be gathering later this month for its spring meeting in Washington, D.C., and will be voting on whether to authorize a membership ballot that would enable the AICPA, which is a participant in an international accounting consortium, to launch a new, global business professional credential (referred to as "XYZ").

If this vote and the subsequent membership ballot are successful, the accounting profession will be planting its colors first in a currently unclaimed but potentially very lucrative space. This is an incredibly exciting opportunity. Exciting because the statistics say the demand is there. Exciting because, having built the most respected profession over the past 100-plus years, we are in a unique position to apply those same principles to a credential that will be accepted beyond our borders and without government regulation. Exciting because CPAs will have a "head start" should they choose to attain this credential.

As I have been traveling around the country these past months, several questions seem to recur. So you can fully understand how the proposed credential would work, and so I can answer some of those questions, I'd like to walk you through a few key elements:

* The new credential would be granted by a separate, affiliated entity. That entity would be self-supporting--that is, it would not be funded by AICPA member dues.

* The credential would be self-regulated, not under the auspices of any governments.

* XYZ would be internationally accepted, not to be confused with international in scope.

* The credential is a "want to," not a "have to." It is an option for those who think it would help their businesses, firms or careers, much like getting any additional credential.

* The very nature of XYZ makes it distinct from the CPA designation. It is not a variation...