PracticeConsultingAICPA presses ahead with Cognitor

AICPA presses ahead with Cognitor

The US accountancy institute yesterday chose to forge ahead with plans for a global business qualification to rival the MBA, despite UK bodies dropping out earlier this month.

Council members from the American Institute of CPAs yesterday approved a resolution to back the plan, known as Cognitor, at the institute’s autumn meeting in Las Vegas, according to Pro2Net.

Support for the Cognitor on this side of the Atlantic collapsed after the withdrawal of the English ICA and the Scots and Irish institutes from international discussions on its development.

It is believed the institutes withdrew fearing the Americans were moving too far away from the CA brand.

But the Americans look set to drive the project forward. Speaking to the institute’s council, AICPA chair Kathy Eddy said: ‘If we don’t do this, someone else will do it. The timing, I believe, is now or never.’

Eddy dismissed the withdrawals of the European institutes as not ‘critical’ and said they could rejoin the project.

‘Despite the fact they basically agreed with us, the countries that dropped out have expressed some doubts and are not sure the Big Five are dedicated to this program,’ she said.

While there is broad AICPA recognition for the Cognitor programme, the institute is now looking for the project to prepare a business plan to include financial projections demonstrating viability; as well as market research results.

The AICPA also indicated that the internet will have a role to play in the development and operation of Cognitor.

Outgoing chairman of the AICPA’s board of directors, Robert Elliot, said: ‘The internet provides a platform for a global credential, competency building, knowledge-sharing, quality assurance and infrastructure marketing.’

Links

News analysis – Cognitor explained

English ICA pulls out of Cognitor plan

Institutes pull out of Cognitor talks

New qualification to rival MBA

AICPA website

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