n extraordinary opportunity is before us. We are now considering a credential that adds enormous value to our profession. Its holders can be characterized as rooted in strategy, facilitators of organizational change, savvy in performance measurement systems, entrepreneurial in nature, globally aware and grounded in knowledge integration. They will
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL Why We Oppose the Proposed Global Business Credential BY HERBERT SCHOENFELD AND ROBERT GOLDFARB SCHOENFELD, MENDELSOHN, GOLDFARB LLP, N.Y., CERTIFIED PUBLIC ACCOUNTANTS Only a complete understanding of XYZ will result in an intelligent vote. ur relationship with the AICPA has been a good
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL We Are Global Business Advisers BY RONALD J. BAKER, DANIEL D. MORRIS AND JUSTIN H. BARNETT, VERASAGE INSTITUTE, CA If Columbus had an advisory committee he would probably still be at the dock —Justice Arthur Goldberg, 1908–1990 ngage in this thought experiment: The
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL Adding Value to the Profession: The Proposed Global Business Credential BY WILLIAM L. REEB, CPA AND MICHAELLE CAMERON, PhD n extraordinary opportunity is before us. We are now considering a credential that adds enormous value to our profession. Its holders can be characterized
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL Should CPAs Lead the Way? A call to objectivity. bjectivity: It is the century-old hallmark of the certified public accountant. It has been re-affirmed as a core value in the grassroots vision process. It is essential for CPAs as they assess the viability
EXECUTIVE SUMMARY NEW FASB STANDARDS prohibit the pooling-of-interests method of accounting for business combinations and require a purchase accounting method that does not allow goodwill amortization. The standards are a radical change, and management accountants, auditors and financial executives must understand and work with a very different accounting process.
n this age of electronic spreadsheets, local and wide area networks and the Internet, it’s a cinch to distribute financial data to many different people in an organization. And therein lies a problem. The CEO says he’s too busy for all the details (“Just give me an overview”). The
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL The range of services required by our clients has increased dramatically in recent years. I feel the proposed XYZ designation provides our profession with an enhanced opportunity to access the fast-growing consultancy work available in areas such as business strategy and IT. If
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL New Credential Is a Natural Fit So say most business and industry members. usiness and industry members, the AICPA’s largest and fastest growing constituency, seem to have a natural affinity for the proposed global business credential. “I’m not aware of anyone in industry
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL Market Research: Data Suggest Demand for Global Business Credential Skills BY KEN GERBETZ AND ROBERT S. SCALEA, STRATEGIC CONSULTING, INTERPUBLIC GROUP OF COMPANIES arket research on the global business credential concept began in 1999. A consortium of international accounting organizations conducted qualitative and
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL Many Small Firms Remain on the Fence Others see new competitive asset. any CPAs practicing in small firms appear to be taking a wait-and-see attitude when it comes to the proposed global credential. “My clients tend to be small companies, so I honestly
EXECUTIVE SUMMARY PRESIDENT BUSH SIGNED THE ECONOMIC GROWTH AND Tax Relief Reconciliation Act of 2001 into law June 7. The $1.35 trillion tax relief package affects almost every taxpayer in a variety of ways. CPAs may need to reconsider some of the tax planning assumptions that have guided them
nsurance isn’t only the purview of public practice CPAs. Companies use insurance to meet a wide variety of business needs. For example, in most corporations, proper risk management for the company’s property and employees is the responsibility of the CFO. And more than 70% of Fortune 500 companies have
EXECUTIVE SUMMARY TO HELP AUDITORS COPE WITH THE ISSUES surrounding the explosive growth in information technology use, the ASB issued SAS no. 94, The Effect of Information Technology on the Auditor’s Consideration of Internal Control in a Financial Statement Audit. SAS NO. 94 PROVIDES AUDITORS WITH GUIDANCE on IT’s
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL Impact of the Global Business Credential on the Next Generation BY SCOTT TAYLOR AND JEAN FINNEGAN THE TAYLOR GROUP Survey results say it’s a win/win outcome for the profession . he next generation is obviously critical to the future of the accounting profession,
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL CPAs Have Everything to Gain An interview with the COO of the Global Credential Steering Committee. JofA: You’re a CPA yourself. Some CPAs are vehemently against opening up the credential to other professions. What would you say to them? Trepeck: I understand their
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL While I understand the driving rationale for the new credential, I am afraid it is not responsive to the marketplace or CPA professionals. Who will hire someone with this credential if they really need specific expertise in areas traditionally far removed from accounting?
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL A Summary of Points of View THE ISSUES WHAT OPPONENTS SAY WHAT ADVOCATES SAY Creating a NEW Credential We may need this type of credential 20 years from today, but not now This is a long-term strategy and to ensure we are first
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL A New Credential for a New Economy n today’s evolving global marketplace, there is a growing demand for skilled strategists who draw upon a wide array of competencies to provide solutions that create wealth and a competitive edge for businesses. Responding to this
inancial statement frauds, the bane of the auditing profession, come in different forms. But, from studying hundreds of fraud cases, we can learn a great deal that can help CPAs in detecting these illegal acts. A vital part of discovering fraud concerns the auditor’s ability to ask questions and
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL “It’s Up to You” Others see new competitive asset. y the time the debate subsides and the information campaign ends, millions of words will have been written and spoken about the global business credential—more than 12,000 of them in this insert alone. Powerful