AICPA Council approves ballot measure on deeper relationship with CIMA


Members of AICPA’s Council have authorized a ballot measure on a proposal by the AICPA and The Chartered Institute of Management Accountants (CIMA) to create a new accounting association that would integrate the organizations’ operations and represent the entire accounting profession, while preserving their respective membership bodies.

The proposal, first introduced to members on Nov. 2, is intended to provide enhanced advocacy, expanded resources and additional educational opportunities. The proposal has been endorsed by the AICPA Board and Council and has received support from 51 state CPA societies, leaders from many small, medium and large firms, and finance leaders from organizations across the U.S. and around the world. AICPA committees, including the Private Companies Practice Section, Business and Industry Executive Committee, Government Performance and Accountability Committee and the Women’s Initiatives Executive Committee have supported the proposal.

Electronic voting on the measure will begin in April following busy season and continue for two months. Regular voting members will receive their personal and confidential ballots the week of April 18 from a third-party vote administrator under the name “AICPA Independent Tabulator.” Moving forward requires approval from two-thirds of AICPA members voting.

Under the proposal, AICPA members would remain members of the AICPA and be awarded automatic membership in the new association as part of their regular AICPA dues. CIMA members, who will vote on a similar timeline, would remain members of CIMA and also be part of the new association.

While the AICPA and CIMA would maintain their respective membership bodies and governing councils, the deeper relationship would enable the organizations to advocate for the public interest and promote designations with the power of 600,000 current and next-generation accounting professionals worldwide, the Institute said. Integrating operations is intended to also accelerate and expand the resources and services the organizations provide.

The AICPA would continue to focus efforts to promote, protect and grow the CPA.

To learn more, visit aicpa.org/horizons.

SPONSORED REPORT

6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.

PODCAST

How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.