To AICPA Members in Business & Industry

Dear Member:

The days since the collapse of Enron have been difficult ones for the CPA profession, and not just members who work for the large CPA firms. Our integrity - the bedrock of our profession - has been called into question.

But CPAs do not need to sit by and watch it happen. The AICPA encourages all members to be proactive during this time. We recommend that you actively communicate with your employer, your colleagues and others to reinforce the positive public view of the CPA designation that we have all worked so hard to earn.

The Institute has been working hard to communicate the valuable contributions that CPAs make every day to the U.S. economy. In interviews with national broadcast and print media, we have emphasized that there are over 350,000 CPAs nationwide who do the right thing each and every day. We point to the diversity of our membership, including the fact that nearly half of all CPAs work in business and industry, meeting the needs of their employers while remaining committed to the public trust. Our message is clear: this profession will not tolerate those who do not abide by the rules.

To help you share this message we have developed an ad campaign advocating for the CPA profession, which you may have already heard about. A print ad will run in major national and big city newspapers and a 30 second commercial with the same message will run on national radio programs. We are also expecting state CPA societies will place the ads locally.

We are also doing our best to communicate with our members. We are regularly briefing member groups, committees and state society leadership via email and telephone to keep everyone as informed as possible.

We have attached some information to help you with your communications process. These materials include:

• Summaries of the current legislative and regulatory situation to help you keep up-to-date with this quickly evolving situation
• A history of self-regulation
• The written testimony of James Castellano, AICPA Chair, to a House Subcommittee, and a related press release sent to national and trade media
• The written testimony of Richard Miller, AICPA General Counsel and Secretary, before the New York State Senate Higher Education Committee
• A glossary of technical terms
• A copy of the national "restoring confidence" ad on a PDF file

The items listed above, along with a wealth of other resources, are also posted at www.aicpa.org, click on the flashing green banner. Some additional documents to assist you as you dialogue with others on the impact of Enron on the profession, on your company and on your role as a CPA in industry are attached as follows:

• General questions and answers about the Enron situation and the regulation of the profession.
• Specific questions about the role and responsibilities of CPAs in business and industry
• Questions you can ask in your company to demonstrate leadership in light of the Enron bankruptcy.

These tools can be tailored to fit your needs as a professional.

We welcome your thoughts and comments. The AICPA will continue to be an advocate for all of our members, who share a long history of commitment to the core values of integrity, objectivity and competence.

Sincerely,

Alan W. Anderson
Senior Vice President
Member and Public Interests