To AICPA Members in Public Practice
Dear Member:
We don't need to tell you that these are tough days for CPAs. 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 staff and reach out to clients to safeguard the reputation of your firm.
During the past month, 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, the we have emphasized that there are over 350,000 CPAs nationwide-and in over 45,000 public practice firms-who do the right thing, serving small businesses, their clients and the public interest. 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 for which we will be seeking national exposure. We encourage you to run it in the publication(s) of your choice, if you are so inclined.
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
- Questions and answers about the Enron situation
- Glossary of technical terms
- A draft letter that you can use as the basis for a letter to your clients.
These tools can be tailored to fit the needs of your practice. We recommend the following steps for your communications:
- Meet with your leadership team to determine if there are any steps you need to take as a firm to reemphasize your commitment to quality. You may want to refer to the AICPA Code of Conduct at this time, which you can view at www.aicpa.org/about/code/index.htm.
- Meet with your staff to discuss how they should respond to questions about the Enron situation.
- Send a personalized letter to your clients assuring them of the quality of your work and inviting them to contact you with any questions or concerns. A draft is included in this kit.
- Meet, face to face, with your largest clients, to bolster confidence in them as a firm and as individuals.
We welcome your thoughts and comments. The AICPA will continue to be an advocate for our members, who share a long history of commitment to quality practice.
Sincerely,
James G. Castellano, CPA
Chair of the Board
Barry C. Melancon, CPA
President & CEO