AICPA annual report 1984-85;Message to members

              annual report
1984-85
Major developments affected the Institute and its members this
year. Public concern and Congressional studies brought the account­ing
profession more into the limelight. Extensive proposals to change
the tax law provided an opportunity for members to mobilize and to
participate in the legislative process. Accountant’s liability and avail­ability
of insurance coverage have emerged as a major concern of the
membership The need to reconsider the organization’s mission and
approach to achieving compliance with standards of
professional conduct has become more apparent.
To address these and other developments, the
Institute and its members have taken a number of
important initiatives.
Congress, the media, and others are con­cerned
about the quality of audits. Congressional hearings centered
on the effectiveness of self-regulation, auditing and accounting stan­dards
setting, and auditor independence. The Institute, as one of the
first participants in these hearings, provided testimony (mailed to all
members) that expressed a clear commitment to implement “sound
solutions to real problems” the hearings might identify.
We believe the actions and initiatives taken by the profession
this year to improve audit quality evidence our commitment to meet
the needs of the public and to discharge our responsibilities with
integrity and objectivity. Ahead we may find that even more is
expected of us by the public we serve. We must be ready to consider
how the profession can reasonably meet any legitimate public
expectations identified.
AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
MESSAGE TO
MEMBERS