AICPA members soundly defeat global credential

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04 Jan 2002

By a vote of 83,390 (62.5%) opposed to 50,034 (37.5%) in favour, members of the American Institute of CPAs have defeated the proposal to create a global professional credential.

The global credential, alternatively referred to as XYZ, Cognitor, and Strategic Business Professional (IISBP), was proposed as a supplement to the national accounting credential such as CPA and CA. The credential was intended to recognise an individual's ability to integrate knowledge from multiple business disciplines and to apply that knowledge to provide strategic business insight. Besides the AICPA, a number of other national accounting bodies had agreed to participate in the global credential process, including Australia, Canada, France, Italy, and New Zealand. The AICPA had spent about $5 million over the past three years in developing the initiative.

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