Associations

One year since being given the green light by the American Institute of CPAs, its trio of specialty credentials - the Personal Financial Specialist, the Accredited in Business Valuation and the Certified Information Technology Professional - have made steady, if not spectacular, membership gains, while the committee charged with their progress has deployed a grass-roots strategy to improve their value proposition.

Despite another year of red ink, executives at CPA2Biz, the online marketing portal of the American Institute of CPAs, maintained optimism that the site's new features and a rising user base will keep the vehicle cash-flow positive, a trend that eventually will lead to profitability.

Leaders of the American Institute of CPAs' national effort to improve financial literacy among the American public called on members of the institute's ruling Council to get involved as the institute unveiled a consumer Web site tied to the educational initiative.

Stating that it is in a "strong financial position with excellent liquidity," and aided by a reversal of nearly $2 million in pension liability, the American Institute of CPAs reported a $290,000 excess in operating revenue for fiscal 2004, versus a deficit of $1.25 million for its prior fiscal year.

J. Thomas Higginbotham, vice president of congressional and political affairs at the American Institute of CPAs, announced plans to retire in January 2005, after 15 years of service.

Cynthia Cooper, the former WorldCom vice president of internal audit who exposed the $11 billion fraud at the telecommunications company, is among three CPAs who will be inducted this month into the 2004 American Institute of CPAs Business & Industry Hall of Fame.

The American Institute of CPAs has named Sandra Johnigan the recipient of its 2004 Forensic & Litigation Services Volunteer of the Year Award.

After three years in development, the Committee of Sponsoring Organizations of the Treadway Commission has released its finalized Enterprise Risk Management - Integrated Framework.

The American Institute of Certified Public Accountants has launched a dedicated Web site for its members who specialize in business valuation and forensic and litigation services.

The American Institute of CPAs has launched the third of its planned Audit Quality Centers.