News for CPAs
News for CPAs
CPAs Talk With Arizona Congressional Delegation
CPAs recently talked with members of Congress and their staff about social security reform, tax reform/simplification and the profession’s efforts to improve the financial literacy of Americans. Dan Baran, Larry Field, Ken Husband, Mark Landy, Peggy Ullmann and Cindie Hubiak met with Senator Kyl, Congressmen Flake, Hayworth and Shadegg in Washington, D.C. The CPAs also spent time with the staff of Senator McCain and Congressmen Franks, Kolbe, Pastor and Renzi. The AICPA had information available to help the Congress members understand these technical issues.
CPA Image Continues to Improve
New independent research shows the CPA profession continues to garner high marks from business decision makers, executives and investors, earning favorable ratings of 97%, 95% and 89%, respectively. In fact, business decision makers and executives ranked CPAs higher than physicians by several percentage points. CPAs also ranked higher than other financial services-related professions, such as insurance agents, bankers, chief management consultants and stock research analysts.
The research was conducted by Penn, Schoen & Berland Associates for the AICPA. More than 500 business decision makers and executives and 500 investors responded to telephone interviews during March 2005.
On specific measures, CPA “heritage” attributes have improved from 2003 figures. The data show CPA attributes ratings in the areas of “committed to the rules of the accounting profession,” “reliable” and “consistently demonstrates integrity and ethics” have moved higher.
When asked whether CPAs and the accounting profession have taken steps to fix the problems that had led to past accounting scandals, fully 80% of business decisions and 70% of executives said “yes.” While just 52% of investors said “yes” to that question, 71% of investors responding to the survey admitted they are not familiar with the Sarbanes-Oxley Act. In addition, all three groups see CPAs as part of the solution to fighting or preventing fraud (86% for business decision makers, 75% of executives and 78% of investors).
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