This research reviews the history and the roles of the American Institute of Certified Public Accountants (AICPA). The history of the organization are addressed briefly, while the specific roles of the organization are addressed in greater detail.
The American Institute of Accountants was established in 1887 (National Society of Public Accountants, 1995, p. 15). The American Institute of Accountants initiated the process of certifying accounting practitioners about 20 years later, and the American Institute of Accountants eventually was renamed the American Institute of Certified Public Accountants.
The contemporary mission of the AICPA is to act on behalf of its members and provide necessary support to assure that Certified Public Accountants (CPAs) serve the public interest in performing the highest quality of professional services (Chenok, 1995, p. 70). In fulfilling its mission, the AICPA gives priority to those areas where public reliance on CPA skills is most significant.
As a national organization of practicing CPA, the AICPA has been integrally involved in developing and promoting the profession, and AICPA efforts have been vital to the development of accounting standards and related policies (Kieso & Weygandt, 1995, p. 12). The roles of the AICPA are reviewed in relation to (1) professional accounting education, (2) the development of professional standards, (3) the development of accounting standards, (4) the certification of professional accountants, and (5) the development of taxation policy.
In order for professional accountants of to meet their professional responsibilities, they must be proficient in a broad range of areas (Chenok, 1995, p. 66). In the future, this range will be broader than for CPAs in the past. The range of areas includes financial reporting, auditing, taxation, and the development of innovative solutions to organizational and planning needs.
Because of the public reliance on CPA...