Event Highlights

Four Ps Shaping the Accounting Profession

Barry Melancon, CPA, AICPA president and CEO, recently detailed four concepts that will shape the accounting profession in the years ahead. Dubbed the “Four Ps,” they are the pipeline of accounting school graduates and new CPAs, the patenting of tax planning strategies, private company financial reporting, and professional responsibility.

These four critical areas, detailed in a recent AICPA article, cover issues of great professional importance:

• Recruiting is needed to replace those nearing retirement
• Increasing number of tax patents that are undermining the integrity, fairness, and administration of the tax system
• Developing more relevant standards for private company reporting needs to be settled
• Embracing the professional responsibility needs to be reflected in educating consumers, maintaining sound auditing, and adopting national uniform mobility of CPAs to serve clients in more than one state

Get AICPA’s complete explanation of its “Four Ps” on AICPA’s Web site. For more information on how you can get involved in the efforts outlined above, e-mail communications@picpa.org.