In his first address as Chairman of the Board of the American Institute of Certi
ID: 2333212 • Letter: I
Question
In his first address as Chairman of the Board of the American Institute of Certified Public Accountants (AICPA), Robert K. Elliott said: Knowledge leveraging will shape a wide range of CPA services. CPAs will be able to identify relevant information and its sources, perform modeling, devise and apply performance measures of all kinds, design systems to obtain needed information, advise on controls and security, and otherwise ensure relevance and reliability. CPAs will identify and deploy knowledge needed for strategic planning and investments, for marketing decisions, for monitoring internal and external conditions, for conducting daily operations, for maximizing the productivity of employee behavior, and for measuring the effectiveness of operations, personnel and processes. All this and more (Elliott 2000). Discuss ways in which the course material you have learned so far agrees with this quote. Discuss any disagreements. Do you think that the CPA should be performing these services? Why or why not? (Original Post Due by 9/14 11:59 PM CST, Replies Due 9/16 11:59 PM CST) Robert K. Flliott Who Are We as n DrofousExplanation / Answer
In the given scenario the chairman of the American Institute of Certified Public Accountants addressed his constituents and basically said that CPAs should be able to use their knowledge ,education,experience,and information to improve and offer new services that will enhance workplace effectiveness.His speech pairs well with what the text discussions in regards to the same topic.An accountant is no longer expected to be just behind the scenes entity that just records debits and credits instead he is expected to be a detective an enforcement officer a correction officer and a problem preventer.
An accountant must posses the ability to understand the following:
In addition an accountant must have the following core comptencies.
An accountant should be willing and able to perform the services the chairman mentions in his speech as long as the performance of the services doesn't compromise the intergrity of the accountant in order to generate additional revenue for the accounting firm.