The creation of a new international accounting association has been overwhelmingly approved by members of the American Institute of CPAs and the Chartered Institute of Management Accountants. The organizations this weekend announced that 86.6 percent of AICPA members and 89.7 percent of CIMA members voted in favor of the proposed organization.Work to create the new association will begin immediately, and it will officially launch in 2017. Membership in the new organization will not require additional dues for either group. The AICPA and CIMA said the new association will represent 600,000 accounting professionals.
The AICPA said in a press release that "the organizations will be able to strengthen advocacy, accelerate efforts to boost member employability, and provide additional resources to enhance the quality and competency of public and management accountants in the United States and abroad."