Academic journal article Journal of Accountancy

CPAs Have Everything to Gain

Academic journal article Journal of Accountancy

CPAs Have Everything to Gain

Article excerpt

An interview with the COO of the Global Credential Steering Committee.

JofA: You're a CPA yourself. Some CPAs are vehemently against opening up the credential to other professions. What would you say to them?

Trepeck: I understand their concern, but I believe it's unwarranted. There are three reasons to make this credential inclusive to other professions. First, by definition this credential is about integrated knowledge and multiple business disciplines. No ONE profession can do it all. Second, talent attracts talent and this credential will gain credibility by attracting the brightest and the best from a variety of professions. Third, competition is building and the competition is not likely to be held accountable to the high ethical standards that will absolutely be the case if this credential is infused with "CPAness."

JofA: What evidence do you have that competition is building?

Trepeck: During the past few months there's been a wave of accelerated activity. Universities are getting on the bandwagon. Stanford and Harvard Business School are looking into a partnership that would offer a credential over the Internet. Michigan State University, along with Esperti-Peterson and the American General Financial Group, has launched something called The Academy of Multi-Disciplinary Practice. Our colleagues in England and Wales are looking at an Enterprise Programme. And Strategos Institute, founded by renowned consultant Gary Hamel, is focused on offerings very similar to the global business credential. Our research said the window of opportunity wouldn't be open long and it's proving prophetic.

JofA: If AICPA members approve it, the Global Institute, an independent body, will oversee the credential. What say will CPAs have in that organization?

Trepeck: While the Global Institute will be independent, self-governing and self-funding, it will receive heavy-duty advice and input from the CPA profession. CPAs will be well represented on the Board, on the Advisory Committee and on the Council of National Credential Granting Organizations. As a result, CPAs will be both advisers and decision-makers regarding worldwide competencies, ethics and admissions standards for the credential. …

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