AICPA-CIMA proposal has been approved AICPA and CIMA members overwhelmingly approved AICPA — 86.5 percent support CIMA — 89.7 percent support Organizations will integrate operations through new association while preserving both membership bodies The new association will launch in 2017 to: Advance the entire profession –public and management accounting Provide a stronger voice in advocacy, speaking with the power of 600K current and next generation professionals Enable the AICPA to offer members enhanced resources, market insights and network opportunities to get ahead of emerging issues Promote CPA and CGMA designations and the entire profession. AICPA maintains strong commitment to and focus on promoting, protecting and growing the CPA AICPA member affiliation, experience and benefits will not change Both AICPA and CIMA members voted in favor of the proposal to create a new association to represent the entire profession while preserving the respective membership bodies. AICPA members approved by a vote of 86.5 percent to 13.5 percent CIMA members approved with 89.7 percent of those who voted endorsing The integration of strategy, management and operations will begin immediately but could take up several years to complete. The Association of International Certified Professional Accountants, which is the same name as existing joint venture and referred to as simply “the Association”, will launch in 2017. At that time, AICPA members will have automatic dual membership in the Institute and Association for no additional dues. AICPA dues will continue to be adjusted in line with historical norms. The Association will focus on advancing the entire accounting profession – both public and management accounting. Together the AICPA and CIMA will represent a stronger voice in advocacy, speaking with the power of 600K current and next generation accounting professionals. This will be especially powerful in the international arena, where standards are increasingly being established with implications for clients in the U.S. AICPA members will gain enhanced resources, market insights and network opportunities to better understand issues and influence regulation affecting their employers and clients. The Association will extend the CPA’s core values of quality, competency and integrity across the entire accounting profession and provide a broader platform to promote our members’ designations and options within the profession. AICPA will continue to exist and maintain its steadfast commitment to the core – the CPA. Members can rest assured the following will remain constant: AICPA member affiliation, experience and benefits AICPA governing Council The AICPA’s commitment to… The CPA, public practice issues and related specialty credentials Growing the CPA pipeline The accounting profession and support of core audit and tax and related disciplines Ethics, quality and protecting public interest Resources for CPAs in business and industry Acting as the voice of the profession and the conscience of business Partnering with state CPA societies on behalf of the profession