It seems rather strange that the leadership of the AICPA has not responded to any of the recent criticisms of the cpa2biz.com spin-off. This was a radical move for a nonprofit professional association, and it raises some serious issues. Although the spin-off of a for-profit subsidiary from the AICPA was not a pure conversion from nonprofit to for-profit form, since the old AICPA will continue in existence, it has many of the essential characteristics of a conversion. AICPA members should ask themselves the question: If the cpa2biz.com spin-off was beneficial for all affected parties, why was it necessary or desirable to provide institute staff with incentive compensation for their involvement in arranging the transaction? An initiative of this magnitude obviously should have involved oversight from the AICPA membership. Individual practitioners, who ultimately will bear the consequences of the AICPA's actions, at a minimum, should have been given the opportunity to objectively evaluate the merits of this new for-profit entity.
|Number of pages||3|
|Specialist publication||Accounting Today|
|Publication status||Published - 23 Oct 2000|