Role of AICPA council

The role of AICPA council in anti-fraud program.

Speaking about this AICPA topic I would like to note that it is very instructive in terms of organizational structure and the role-sharing. The special task force was appointed in February to study the role and responsibilities of the governing Council of the American Institute of Certified Public Accountants. In the article listed in the bibliography section, it is stated that certain recommendations must be passed to assure even better operations at the AICPA council Summarizing from the article found at: http://www.aicpa.org/download/members/Report_Task_Force.pdf I would like to put forth some of these recommendations that are supposed to increase the role of the AICPA and the CPA profession in an attempt to present fraud in the USA:

  • The CPAs and members of this AICPA Council are obliged to sign a special statement of responsibility every year to assure their understanding of the appropriate laws and implied behaviors. I personally find it very useful because it initially forces a person to make a commitment and accept the responsibility.
  • The AICPA Board of Directors is, according to the article should furnish the AICPA Council with more timely and comprehensive information on issues under discussion, including pro and con perspectives.
  • The proper mechanism to assure that the Council is able to serve as a consulting agency even for the SEC.
  • The AICPA council is supposed to have regular meetings across the USA to assure uniformity of ideas and understanding of the CPA morale.
  • The AICPA council is supposed to have an open forum or online chat to assure that each person member of the AICPA is able to participate in the decision making process.
  • The AICPA Council must promote democratic election for its members and the proper decision making process encouraging the diversity and the multitude of opinions.
  • In order to assure the absence of power accumulation on top, the AICPA Council members should be elected for a two year term. Those who indeed do well should be able to stay for three consecutive terms.
  • To assure responsibility and discipline, attendance at Council meetings should be mandatory, and any AICPA Council member who misses three consecutive meetings should forfeit the seat.

From what I have learned on this topic I can say that this proposal certainly is going to positively influence the job of a CPA just because it instills more responsibility into people and makes them become aware of various penalties.

Bibliography:

http://www.aicpa.org/download/members/Report_Task_Force.pdf

 

 

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