Not yet registered? Create a OverBlog!

Create my blog

American Institute of Certified Public Accountants (AICPA): The facts

Established in 1887 the American institute of Certified Public Accountants (AICPA) is the national professional body which represents certified public accountants (CPA) in the USA. Presently (as of 01.06.2011), with a membership of nearly 370,000 CPA’s, the AICPA is well represented across every state in the USA. This article gives an overview of the AICPA and its role in America today.

An overview of the American Institute of Certified Public Accountants

History
The American institute of Certified Public Accountants (AICPA) began in 1887 with an initial membership of 1,150. In 1897, the first bylaws of the AICPA were established and over the years a number of committees where formed in order to help with its running. In 1999, nearly half of its committees (120 in total), where disbanded and reorganised into a voluntary group model. Currently, there are approximately 2,000 volunteers helping the AICPA do its work.
Mission
The AICPA's mission is to provide its members with resources, information and leadership which empower them to provide the general public with the highest level of professional service. The AICPA achieves this by working with State CPA organisations around America. Professional standards setting
The AICPA sets the acceptable standard for CPA's throughout the Country. This was highly centralised until the 1970's, since then, the responsibility for setting Generally Accepted Accounting Principles (GAAP) has been handed over to the Financial Accounting Standards Board (FASB). While these standards are still acceptable for CPA's working in private practice, the lawmakers made a new law in 2002, which was initiated in order to create an independent body to oversee financial audits of public companies.
Sarbanes-Oxley Act & PCAOB
This law is known as the Sarbanes-Oxley Act and it resulted in the establishment of an independent body which would set and monitor the standards for public companies, which are regulated, by the U.S. Securities and Exchange Commission. This new body is known as the Public Company Accounting Oversight board (PCAOB), and CPA's must follow its directions in matters relating to public companies.

Membership of the AICPA

Joining requirements
The AICPA provides several types of membership, which are, as follows: 1.Regular - Anyone who has passed the CPA exam, and who was or still is either certified or licensed. 2.Associate Member- Anyone who has passed the CPA exam and who has not been certified/licensed to practice. 3.College Graduates- College graduates who have not yet passed the CPA exam. 4.International Associate- For non US accountants who are members of an approved international organisation. 5.Non CPA Facility Associate- Any CPA accounting faculty member who teaches at a College or university. 6.Non CPA Section Associate- Any non CPA professional who is employed and sponsored by a CPA firm. 7.Student Affiliate- For college students who are thinking about becoming CPA's.

Same category articles Professional training

A guide to Royal Air Force training

A guide to Royal Air Force training

Being a member of Britain's Royal Air Force has always been regarded as a desirable and prestigious job, particularly as it attracts glamorous public figures such as Prince William, the Duke of Cambridge, and before him his father, Prince Charles, the Prince of Wales. However, just because it is a glamorous job does not mean that it is easy. Indeed, RAF training requires a great deal of discipline and application, as this guide shows.
Where to get hypnotherapy training

Where to get hypnotherapy training

Based in the practice of hypnosis, hypnotherapists are professionals who use hypnotic measures to help clients recover from suppressed memories, change behaviour and/or modify thought patterns. The term hypnosis has roots in the Greek word "hypno", and was first used around 1840 by Scottish doctor James Braid. This article offers useful tips on where to get hypnotherapy training for those interested in this field.
Where to receive asbestos training in the UK

Where to receive asbestos training in the UK

Since asbestos was declared a health hazard, every person who comes into contact with asbestos as part of their everyday life is required to have an asbestos awareness training. This policy applies to employees of asbestos-containing building or people whose entire work is to deal with asbestos. For this reason, there are many institutions in the UK that offer various asbestos training courses. Read this article to know where to receive asbestos training in the UK.
What are the different types of allied health careers in the NHS?

What are the different types of allied health careers in the NHS?

If you desire a career in healthcare that offers you job satisfaction and challenges your way of thinking, you may wish to consider the different types of allied health careers offered by the NHS. Allied health professionals are the key members of the healthcare team and help to provide the treatment that aids in transforming people’s lives. Find out more about the range of allied health careers open to you.