The American Institute of Certified Public Accountants (AICPA) is a self-regulatory organization of certified public accountants (CPAs) in the U.S.. The AICPA authors the CPA exam and is a major organization to develop generally accepted accounting principles (GAAP) along with SEC, FASB, and GASB. It is a major contributor to the Republican party.
The AICPA is the national, professional organization of certified public accountants comprised of more than 325,000 members who advise clients on Federal, state and international tax matters as well as prepare income and other tax returns for millions of Americans.
In early 1990, the AICPA Tax Division released its Blueprint for Tax Simplification which attempts to define the tax complexity problem, defines the factors that affect complexity, discusses the development and use of simplification measurement tools, and sets forth guiding principles for simplification.
In addition, in early 1990, the AICPA jointly sponsored the Invitational Conference on Reduction of Income Tax Complexity which brought together tax policy experts for two days of presentations and discussion of the major factors contributing to the increased complexity of the tax law and possible solutions to the resulting problems.
The standards setting board, in the AICPA's view, should be comprised of "highly skilled, experienced individuals with varied backgrounds including financial statement users, preparers, public accountants, academics, national standard setters, and regulators." The board would set its own agenda and its members would be sufficiently compensated to attract highly qualified individuals.
Under the AICPA vision, board members would be appointed by a board of trustees made up of individuals with varied backgrounds.
The AICPA acknowledged that it may not be possible to achieve its vision of the process at this time but encouraged the working party to consider the vision as the ultimate goal.
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