SPECIAL REPORT: THE GLOBAL BUSINESS
CREDENTIAL |
A New Credential
for a New Economy n todays 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 need, the American
Institute of CPAs and an international consortium of
professional organizations have proposed a global business
credential (also referred to by the placeholder name, XYZ).
Honoring the CPA professions 100+ year tradition of quality
and integrity, this visionary new badge of excellence would
complement current credentials and validate the holders
breadth of strategic business ability, experience and
commitment to ethics, professional standards and continuous
learning across disciplines. In essence, the
proposed global business credential would stand for
broad-based knowledge, much like an MBA does today, and add
in the professional rigor associated with the CPA (code of
ethics, defined competency set, relevant work experience,
continuous learning and re-assessment, rigorous
examination). Its requirements are clearly rooted in the
values and traditions of the CPA profession. Moreover, these
requirements would be consistent from country to country. As
a result, the global business credential would signify the
same professional quality and level of expertise wherever
and whenever it is used, and would not be dependent on the
reputation of any particular academic program. Potential
credential holders would have to earn their way through a
system as rigorous as the one associated with the CPA
profession, including passing an admission exam as
psychometrically stringent as the CPA exam, but not focused
on A&A. In addition, credential holders would
be members of a global organization dedicated to ensuring
that its members are aware of emerging practices necessary
for success in a rapidly changing world. They would have
access to an online worldwide knowledge resource, as well as
a unique network of elite professionals across the globe.
CPAs who are likely to benefit the most are those
already operating beyond foundational services such as
audits, taxes and financial planning areas in which the CPA
will remain singularly positioned as the premiere expert.
Yet market research suggests that the CPA profession as a
whole is likely to enjoy added value from its early
association with and leading role in the credentials
development. Commissioned by the Global
Credential Steering Committee, studies by a leading
international market research firm indicate strong demand
for interdisciplinary business advisers. 75% of clients and 83% of
employers are more likely to hire global business credential
holders for senior strategic business planning positions or
to engage a professional services firm employing global
business credential holders. Executives are willing to pay a
premium to holders of the global business credential14% on
average for an employee and 11% for a professional services
firm. 83% of all college students see
the global business credential as a complement to the CPA.
PROPOSED FEATURES OF THE GLOBAL BUSINESS
CREDENTIAL Complements
Current Credentials: The CPA/global
business credential would be a unique combination,
signifying a wide range of interdisciplinary competencies
not conveyed by the CPA license alone, yet possessed by many
CPAs working todaywhile underscoring the ongoing value and
integrity of the well-established CPA hallmark.
Internationally
Consistent and Market-Driven: The
global business credential is designed to be portable across
national and international borders, providing a globally
recognized standard. A new, self-funded Global Institute,
operated and managed separately from the AICPA, would
oversee its development and execution. The credential would
be market-driven and not regulated by government.
International
Knowledge Resource: Credential holders
would have access to a robust and broad-based online
learning platform, available on a 24-hour, seven-day-a-week
basis, as well as unique networking opportunities among an
elite, global group of interdisciplinary professionals.
Early Adopter
Advantage: The majority of pioneering
global business credential holders would likely be CPAs,
giving them first-to-market advantages and an opportunity to
broaden their brand equity. |