Question

Specifically look at the AICPA website. What is the function of the AICPA? What standards to they enforce? How can you become a member? Are there any ethical implications? Do you think it is a good idea to have an organization like this?

Answer 1

Answer :

The function of the AICPA is to represent the profession of CPAs nationally in respect of rule making and standard setting. It acts as an advocate before the legislative bodies, public interest groups and other professional organizations.

The standards that AICPA develops and enforce involves standards for audit of private companies and others by CPA professionals. It enforces the compliance with profession's technical and ethical standards.

Requirements to become a member of AICPA are as follows(since requirements are in particular so these are taken as such from AICPA website ) :

Regular Member: To qualify for Regular membership in the AICPA, one must: possess a valid CPA certificate issued by the authority of a state; pass the Uniform CPA Exam; complete 120 hours of continuing professional education every three years; practice in a firm enrolled in an approved practice-monitoring program; and agree to abide by the AICPA Bylaws and Code of Professional Conduct.

Associate Member: Associate members have not yet met their state’s additional requirements for certification. However, they have passed the Uniform CPA Examination. Associate members must also agree to abide by the AICPA Bylaws and Code of Professional Conduct and meet the applicable Continuing and Professional Education (CPE) and Quality Review membership requirements for their category (such as public accounting, industry, education or government).

International Associate: In order to qualify for the International Associate membership category, one must comply with the CPE requirements of the jurisdiction in which they are licensed. In addition, mandatory compliance with the Bylaws and applicable provisions of the Code of Professional Conduct, to the extent that it does not conflict with foreign laws or the professional standards in their home countries, is required.

Student Affiliate: The Student Affiliate membership is available from freshman year of college through graduate school. This option is also open to recent college graduates who are in the workforce and have not yet passed the Uniform CPA Exam. Recent graduates may remain in this category for up to five years following graduation and/or completing graduate school. Upon meeting the eligibility requirements to sit for the CPA Exam, Student Affiliate members must sit for the CPA Exam at least once each year to remain in this membership category. Only students residing in the United States are eligible.

Yes there are professional ethics implications. There is a Professional ethics division. This division investigates the potential disciplinary matters involving members of AICPA and state CPA societies.

Since the AICPA aims at providing the most relevant knowledge, advocacy and resources in order to power up the success of global business, CPA professionals and protecting the evolving public interest, it is a good idea to have an organisation like this.