Chair's corner.

AuthorAlmonte, Ernest A.

This is my first column as chairman of the AICPA board, representing 350,000 CPAs all over the country working in businesses, firms, nonprofits, academic universities and government agencies. Such diversity of work environments demonstrates that our great profession is woven tightly into the fabric of the American economy. The past couple of months have been especially trying for us, as employers, clients, employees, the public and even friends and family have turned to us for explanation, guidance and assistance.

As the first AICPA chairman from the government sector, I know well that in challenging times CPAs can and should play a critical role. Our profession stands for integrity, reliability, competency and objectivity. These values are desperately needed today, as always.

In the midst of economic uncertainty, the Institute is committed to laying the groundwork for a successful future. Let me give you some other examples of that commitment. In our increasingly borderless world, the AICPA will be addressing the profession's future during the next year through two very important projects. The first began more than a year ago and focuses on making it easier for CPAs to do business not just in their neighboring counties, but in other states as well.

As you know, we have worked with the National Association of State Boards of Accountancy to advocate for a state-based system that would allow any CPA with a valid state license to obtain practice privileges in any other state, with no notification required. There has been tremendous momentum, and now more than 30 states have embraced what we call "mobility," giving CPAs the unfettered ability to offer services across state lines.

Now we are taking this concept even further. We are facing a time of great change as we move toward International Financial Reporting Standards. The Securities and Exchange Commission has voted to release a roadmap...

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