Special feature: the year in review: a year of renewal.

The past year has brought extraordinary change and renewed vitality to the AICPA. Challenges of recent years have culminated in a wide range of initiatives that reinforce CPAs' professionalism and expand opportunities for members. We built innovative programs based upon AICPA and independent research showing that the profession's positive reputation had been virtually restored and, even more compelling, that the trust people, business leaders and investors had in their own CPAs never wavered. Capitalizing on this solid footing, the AICPA embarked on a four-pronged approach that would further shore up confidence in the profession: image enhancement, small business issues, emphasis on quality, and relations with legislators and regulators.

To provide members with a perspective on those important initiatives, as well as highlight other developments and the ways in which the AICPA supports its members, The CPA Letter is pleased to present this report.

Keeping the Momentum Going for CPAs

* Putting CPAs at the forefront of educating Americans about personal finance, the AICPA's financial literacy initiative, "360 Degrees of Financial Literacy," provides information and direction to help consumers make sound tax and financial planning decisions. Programs include introducing students and educators to the issue of personal finance and to the profession; offering technical review of the book Prudent Investment Practices, a handbook for CPAs and other financial managers; funding and distributing a handbook about recovering financially from a disaster; and sponsoring a multitude of efforts to help consumers understand their finances, including online chats, a dedicated Web site for both consumers and CPAs, and sponsorship toward a national public service advertising campaign (www.aicpa.org/financialliteracy).

* Working with the state CPA societies, the Institute launched the CPA Ambassador program to tap the strength of individual CPAs to help communicate a message of pride and value about the profession. The program trains CPAs to speak out on several important areas (financial literacy, small business success, recruitment and restoring confidence in the profession) to highlight the CPA's expertise, integrity and contributions to clients, employers and their communities. For more information and a list of CPAs who have participated, visit www.cpaambassador.org.

* The Institute was involved in numerous collaborative efforts with state CPA societies to create innovative programs and forge new partnerships that maximize the visibility of CPAs. Initiatives included promoting awareness of financial literacy issues; providing states that suffered disasters with the AICPA-sponsored publication Disaster Recovery: A Guide to Financial Issues; working with states to highlight issues such as the importance of prudent investment management and the significant role of CPAs on audit committees; developing two articles on CPA services for a regional business supplement; co-sponsoring a colorful, glossy calendar featuring real-life CPAs; and producing a tax-themed public service announcement.

Extending the Profession's Message

* More than 500,000 students have responded to the CPA student recruitment campaign, "Start here. Go places." Over 150,000 students registered on the campaign's Web site, and nearly 116,000 of them asked to receive further communications. The Institute also received more than 50,000 high school leads and nearly 66,000 college leads.

* The Institute has continued to engage in proactive media outreach that highlights the professionalism of CPAs and the efforts or accomplishments of exemplary members.

* "America Counts on CPAs" is the theme of two 60-second radio spots and three print ads promoting CPAs' objectivity and trustworthiness. The ads were placed locally by state CPA societies.

* Projects that the AICPA Foundation helped fund during the past year include two new television programs that teach middle and high school students about personal finance and the accounting profession; "Financial Smarts for Teachers," which helps instructors understand their own finances; a disaster recovery guide, which was produced in...

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