Back in November we learned that the joint venture between the AICPA and CIMA that brought the CGMA into the world would experiencing a "natural evolution" into something else. While it sounded a lot like a merger, it's a couple of associations, so it's not really a merger, AICPA President, CEO and chocolate bunny sculptor Barry Melancon said.
Anyway, there's an official proposal out now and the two organizations are asking their members to vote on it:
The proposal would create a new association representing the entire accounting profession, while preserving the AICPA and CIMA membership bodies. The organizations would integrate operations to strengthen advocacy and have more agility in responding to evolving member needs. AICPA members will have until 5 p.m. ET, June 16, to vote on the proposal.
Naturally, they got the state CPA societies on board and both the AICPA Board of Directors and Governing Council recommend its approval, but, uh, What are they calling this thing, anyway?
While the proposed association was not given a specific name, the joint venture created by the institute and CIMA in 2011 is called the Association of International Certified Professional Accountants, which is posted on a sign outside the AICPA headquarters in New York City.
Oh, okay, so there's not really a name but the thing that is experiencing a "natural evolution" is called the Association of International Certified Professional Accountants…or the AICPA. Got it.
Alright, so what's this new nameless entity going to do, exactly?
The new association would build upon those member benefits and represent more than 600,000 professional accountants, strengthening advocacy on a wide spectrum of issues. The institute said the proposal would provide a stronger defense against regulations that burden businesses and do not protect the public interest. It would power expanded resources across public and management accounting to keep members ahead of emerging issues.
That's a decidedly vague description, isn't it? But don't worry, it's going to be TERRIFIC:
Melancon explained that the new association would be a plus, particularly for younger accountants. “It is important for the next generation,” he said. “About 36 percent of next-generation accountants believe that they should have the opportunity and want to have the opportunity to work overseas for some part of their career. It is also important from the footprint perspective as it relates to business and industry versus public practice.”
So, is it going to be like an exchange program or something? Will CPAs do semesters abroad and come back all enlightened about the world and stuff? Does it require you to have the CGMA? I guess if you want to know, you'll have to the vote for the thing, right? RIGHT?
Maybe we should take a straw poll and talk this out. Cast your vote in the comments. Explain your answer.