American Institute of Certified Public Accountants (AICPA)

AICPA was founded in the year 1887.  AICPA is the acronym of American Institute of Certified Public Accountants. It is the nationwide professional institution of the CPAs (Certified Public Accountants). It is located in United States of America and has more than 369,000 members such as Certified Public Accountants in public practice, business and industry, education and government. The American Institute of Certified Public Accountants has office branches in Lewisville, TX, Ewing, New Jersey, New York City, Durham, NC and Washington, DC.

The AICPA represents the Certified Public Accountant profession nationally about standard-setting and rule-making. The AICPA serves as an advocate before the public interest groups, professional organizations and legislative bodies. The American Institute of Certified Public Accountants creates standards for the audits of the private companies and various other services by Certified Public Accountants. It offers educational guidance materials to all its members. It grades and develops and the Uniform CPA Examination. It also enforces and monitors compliance with the profession’s ethical and technical standards.

The AICPA introduced accountancy as a profession well-known by high professional standards, rigorous educational requirements, a licensing status, a strict code of professional ethics and a dedication to serving the public interest. The American Institute of Certified Public Accountants and its precursors have a history since 1887, when the AAPA (American Association of Public Accountants) was established. In the year 1916, Institute of Public Accountants succeeded the American Association and during that time there were about 1150 members.

In the year 1971, it was renamed as American Institute of Accountants and it remained until 1957 and then it was changed to American Institute of Certified Public Accountants. In 1921, the ASCPA (The American Society of Certified Public Accountants) was established and it acted as the federation of the state societies.

Questionnaire:

• What is American Institute of Certified Public Accountants?
• Explain the brief history of AICPA?