January 4, 2002

Re: XYZ credential ballot

Dear Mr. Melancon and Castellano,

In my opinion, and 62.7% of voting CPAs, the AICPA is not representing the interest of practicing CPAs, in fact the AICPA, our very own trade association, is working against us.

I call on you and 62.7% of the board to resign at once!  Our alternative is the creation of a new "true-blue" trade association to replace the AICPA.  Your names will be engraved in its concrete foundation as founders.

Scott Beane, CPA
President




AICPA President CEO and AICPA Chair wrote:

  Dear Fellow CPA:

  We have just learned the results of the global credential ballot.
  Members of the AICPA have voted down the proposed bylaw change
  that would have enabled the “granting of an interdisciplinary global
  credential by an affiliated entity to qualified persons who seek to
  obtain it,” with 62.7 percent voting against and 37.3 percent voting in
  favor.  Approximately 134,000 or 39 percent of members cast
  ballots.  Approval by two-thirds of the members voting was
  necessary for the initiative to move from exploration to
  implementation.

  We brought this proposal to you, and you have cast your ballots.
  Your voices have been heard and we will not move forward with this
  initiative.  

  The global credential concept stimulated intense interest and
  discussion within the profession.  Although most CPAs did not see
  the credential as a solution to the issues they face, many of our
  members and state CPA societies were actively involved in the
  debate. We have learned a great deal from this dialogue and we will
  use this knowledge to find new solutions.

  Discussions about the credential focused largely on how to maintain
  and extend the profession’s value in the business and financial
  community.  Members voiced a number of concerns including the
  increase of non-CPAs in professional services and the gap between
  public perceptions and the day-to-day realities of what a CPA does.
  Declining student enrollment in accounting programs was discussed
  as well.  

  We fully recognize how important it is for us to take decisive action
  that will unify our profession on these and other critical issues. The
  work that went into exploring the global credential concept has
  positioned us to make great strides toward achieving this goal.  In
  addition to the stronger international relationships that the AICPA
  gained from participating in the global task force, the significant
  amount of research conducted provided us with new insights into the
  attitudes of both students and potential employers.  This new
  intelligence will help guide us as we continue to focus on extending
  and reinforcing the profession’s value in the business and financial
  community.

  We should all feel proud that we are part of a profession
  passionately engaged in exploring ways to maintain its value and to
  adapt to the profound changes that are taking place in the business
  marketplace.

  Sincerely,

  Barry C. Melancon, AICPA President and CEO  
  James G. Castellano, AICPA Chair  
   

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