The vote will be a blow to the US accountancy body, which had invested considerable time and effort in the new qualification, designed to be recognised around the world.
‘The members have spoken and we will not move forward with this initiative,’ said Barry Melancon, AICPA’s president.
The vote against the qualification was the final chapter in the history of Cognitor – in late 2000 UK institutes pulled out of the initiative, opting instead to pursue their own global ambitions.
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