Chapter 1, Problem 1P

About three decades ago, in his first address as Chairman of the Board of the American Institute of Certified Public Accountants (AICPA), Robert K. Elliott said:

Knowledge leveraging will shape a wide range of CPA services. CPAs will be able to identify relevant information anti its sources, perform modeling, devise and apply performance measures of all kinds, design systems to obtain needed information, advise on controls and security, and otherwise ensure relevance and reliability. CPAs will identify and deploy knowledge needed for strategic planning and investments, for marketing decisions, for monitoring internal and external conditions, for conducting daily operations, for maximizing the productivity of employee behavior, and for measuring the effectiveness of operations, personnel and processes. All this and more.¹³

Write a paper (your professor will tell you how long the paper should be) to discuss ways in which this chapter agrees with this quote. Discuss any disagreements. Do you think that the CPA should be performing these services? Why or why not? Do you think this quote continues to be relevant in today’s environment?