(www.aicpa.org) professional organization of practicing Certified Public Accountants. The "Institute" develops standards of practice for its members and provides technical guidance and advice to both governmental agencies (e.g., SEC) and AICPA membership. The AICPA publishes the JOURNAL OF ACCOUNTANCY and THE TAX ADVISER. The AICPA puts out many publications in the areas of accounting, audit, tax, and management services. For example, the Statements On Auditing standards (SAS) are promulgated by the AICPA.
organization headquartered in New York whose members are Certified Public Accountants. The AICPA prepares the CPA examination and provides educational and newsworthy information to its members. CPAs may prepare tax returns, represent taxpayers during IRS audits, and be called upon for analysis of more complex tax issues.
premier professional association for Certified Public Accountant (CPAs)in the United States, with more than 330,000 members. Its origins go back to 1887 when the American Association of Public Accountants was formed. After several name changes, and after absorbing in 1936 the American Society of Certified Public Accountants (a federation of state societies founded in 1921), the present name was adopted in 1957. The AICPAis extensively involved in various member services, education and publishing, professional ethical practices, enforcement of professional standards, research, and peer review. It also creates and grades the uniform CPA examination. Until the Financial Accounting Standards Board (FASB) was created in 1973, financial accounting and reporting standards were established by AICPA, first through its Committee on Accounting Procedure and then by its Accounting Principles Board, many of whose pronouncements remain in effect. Through its Rule 203, Rules of Professional Conduct, as amended in May 1973 and May 1979, the AICPA recognizes the FASB as the designated organization for establishing standards of financial accounting and reporting.
