Not until it became clear to AICPA management that their CPA2Biz dealings were threatening their ability to advance the agenda of the large accounting firms did they make a concession and announce that they would donate their CPA2Biz shares to charity. In the wake of this belated attempt at damage control, the scrutiny being placed on CPA2Biz seems to have temporarily abated. However, there are serious unresolved issues relating to this initiative. Perhaps most significant is the fact that current and former AICPA executives remain on the CPA2Biz Board of Directors. This ongoing relationship poses a fundamental conflict of interest. When loyalties are divided, compromise is inevitable. It is entirely possible that the profit-seeking activities of CPA2Biz, such as encouraging more CPAs to sell commission-generating products, will be privileged over more traditional professional values, such as objectivity. Clearly, there is a need for more transparency surrounding all institute transactions with CPA2Biz.
|Publication status||Published - 4 Aug 2002|