The American Institute of CPAs (AICPA) is a non-profit organization of Certified Public Accountants in the

United States. It was established in 1887, and its role is to create and grade the Certified Public
Accountant (CPA) examinations. Individuals seeking to practice as accountants in the United States must
pass the CPA examination. AICPA was the first organization to create the original financial accounting
standards under GAAP before handing over the role to the Financial Accounting Standards Board (FASB).
It is the largest member association in the world, with over 418,000 members in 143 countries.

Members of the AICPA represent different areas of practice such as public practice, government,
education, business and industry, and consulting. The association is tasked with setting ethical standards
for CPA professionals, auditing standards of private companies and non-profits, as well as state, federal,
and local government accountants. It also offers specialty credentials to CPA professionals who focus on
personal financial planning, information technology, business valuations, and fraud and forensics.
Management accountants can receive the Chartered Global Management Accountant designation from
both the AICPA and the Chartered Institute of Management Accountants.

The AICPA is responsible for:

Establishing professional standards

The organization held a monopoly in setting the generally accepted professional and technical standards
for the CPA profession until 1970. The function of setting the Generally Accepted Accounting Principles
(GAAP) was later transferred to the Financial Accounting Standards Board (FASB), while the organization
retained the role of setting professional standards for CPA professionals. The association sets the
standards in financial statement auditing, private practice, CPA firm quality control, business valuation,
financial planning, and professional ethics. It also disciplines members who are accused of misconduct
while in active professional practice.

Recruiting and educating prospective members

AICPA develops the Uniform Certified Public Accountants examination for CPA practitioners. Students
and other individuals seeking to practice as Certified Public Accountants are required to pass the CPA
examination. AIPCA also publishes journals and newsletters to educate and inform CPAs on any issues
that are of concern to CPAs. The association conducts seminars on a continuous basis to update its
members on any developments in the profession and changes in laws that may affect them.

Certification and licensing of new members

AICPA grants the CPA designation to accounting professionals who pass a series of accounting exams
and meet the experience requirements before venturing into private practice. The body also offers
credentialing programs for members who specialize in certain areas. Some of these specialties include
Accredited in Business Valuation (ABV), Personal Finance Specialist (PTS), Certified in Financial Forensics,
Certified Information Technology Professional, and Certified in Entity and Tangible Valuations
designations.

Public Interest Campaigns

The AICPA is involved in various public interest programs