|
meeting the
standards as promulgated by the American Institute of CPAs and the various
state societies. To be initially licensed, an individual must pass a
rigorous examination, which is uniform among the states, and then obtain a
certain amount of experience working for a firm which performs examinations
of financial statements and renders a report upon them. The term public
accountant refers to the role as an accountant, who handles recordkeeping
and reporting matters for the public. However, the term CPA, in sum, means
to most people much more than these parts of certifed and
public accountant. A CPA is a very trusted advisor of both individuals and
of businesses.
CPAs are relied upon so much because of not
only their keen analytical and decision-making skills but also their
objectivity, integrity and dedication to service. Many CPAs provide services
well beyond accounting, auditing and reporting. Some are business and
management consulting, information technology consulting, tax planning and
preparation, personal financial planning, valuation services, elder care
services, and compliance. The consumer often expects a CPA to be proficient
at many specializations, even those just indirectly related to the
traditional role of an accountant. The CPA's role has been quickly
expanding, and one leading CPA proposed that the term CPA more appropriately
stand for Certified Professional Advisor. The CPA profession is currently
grappling with how best to define the CPA in today's world and whether to
change the moniker CPA. One preliminary recommendation of the AICPA for a
new term to encompass CPAs worldwide has met with much criticism within the
industry. Stay tuned for further developments.
One thing is clear - the CPA is a very
valued and trusted advisor and a professional who has not only kept up with
the quickly changing world around us, but who has helped shape it.
For more information on tax, accounting, and consulting services, call Brian at (865) 898-3909, or e-mail him
(brian@tankersley.com) |
