No one thought much of "cognitor." The tag was disliked by so many of the members of the American Institute of Certified Public Accountants that it caused people to focus on the name rather than on the credential program, says an AICPA spokesperson. So the organization scrapped the moniker, but not the concept of a new global credential.
Now that the name game is temporarily on hold--the AICPA is using "XYZ credential" for now--the organization must sell the global credential concept to its members. Apparently, XYZ is broader in scope than a CPA or MBA, and certifies that the holder has a working knowledge of everything from accounting to information technology. It "denotes a professional who has moved beyond core accounting competencies," notes Judy Trepeck, chief operating officer of the AICPA's global initiative. In fact, says Trepeck, research indicates that companies are willing to pay higher salaries to people who have the credential.
But state CPA societies are not buying the AICPA's arguments: Organizations in New York, Washington, D.C., and Illinois have firmly rejected the notion of the credential. New York CPAs unanimously voted the idea down, and Marty Rosenberg, chief executive of the Chicago- based Illinois CPA Society, declares that offering a credential to non- CPAs that purports to be better and more valuable than a CPA credential makes little sense. "In fact," he says, "you are positioning the CPA title as less than adequate." -- Steve Bergsman
A PRO FOR ALL SEASONS
Key components of the new credential.
|Portable||Recognized by participating nations.|
|Multidisciplined||Working knowledge of accounting, business law, IT, operations, HR, marketing, and sales.|
|Ethics standard||Governed by a consistent global code.|
|Competency-based||Continued learning and periodic assessments.|
SOURCE: AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS