A Demonstration of Support for Accounting Education in the United States
NEW YORK, Sept. 14 /PRNewswire/ -- The Tax & Accounting business of Thomson Reuters, in a demonstration of support for U.S. accounting education and diversity, has donated its entire stock holdings in CPA2Biz, a subsidiary of the American Institute of Certified Public Accountants, to the AICPA Foundation, which sustains financial education and a culturally diverse accounting profession. The Thomson Reuters donation, constituting 8.71 percent of the company ownership arising from its 2001 investment to help launch CPA2Biz, is the latest example of the company's long-standing support for the U.S. accounting profession.
"With this contribution, Thomson Reuters is making a generous investment in both the CPA profession and in future generations of CPAs," said Barry Melancon, AICPA president and CEO. "The company has a lengthy history of partnering with the profession and firms in many ways. Its initial support in 2002 was essential for us to enter a difficult marketplace by creating and delivering service tools for smaller CPA firms. The recent decision of Thomson Reuters to donate its investment to the AICPA Foundation states unequivocally that their commitment to the profession continues. We are very appreciative to Thomson Reuters for their donation."
Roy M. Martin, Jr., president and CEO of Tax and Accounting, said, "The AICPA Foundation is exhibiting true leadership to address the shortage of accounting PhDs and the need to increase diversity in the CPA profession. Continued learning and diversity are strategic goals for the profession, as well as core values within the Tax & Accounting business of Thomson Reuters. We are most pleased to offer our support to this mission."
With accounting a top college major in a difficult economic climate and in a move to address the future demand for accounting professors, the AICPA Foundation is spearheading the Accounting Doctoral Scholarship program, a $17 million multi-year campaign to fund PhD educational opportunities. The program specifically seeks to attract seasoned professionals from the public accounting arena and prepare them for a second career in academia.
The AICPA Foundation began in 1922. It funds five minority programs: minority scholarships, doctoral fellowships, Accounting Scholars Leadership Workshop, college residency grants and the PhD Project, which encourages talented minorities to become business school professors. The foundation funds four additional accounting-education programs and two public financial-education guides on disaster preparedness and recovery.
Thomson Reuters has long served the CPA profession with products and services that enable accountants to practice more efficiently and productively. Its well-known brands, such as Checkpoint(R), Research Institute of America (RIA(R)), Practitioner's Publishing Company (PPC(R)), Creative Solutions (Ultra Tax CS(TM) and CS Professional Suite(R)), GoSystem Tax(TM), and Warren Gorham & Lamont (WG&L(R)) are staples of the profession, Martin noted.
The company's original investment in CPA2Biz "ratified our commitment to helping small CPA firms have better access to technology, information and content to fortify their services to clients," he said. Martin added that the involvement of Thomson Reuters in CPA2Biz since its inception has helped the AICPA subsidiary deliver on its mission, and the recent decision is "the next logical step in our support of the AICPA and the accounting profession."
(R) Checkpoint, RIA, PPC, CS Professional Suite and WG&L are registered trademarks of Thomson Reuters.
(TM) Ultra Tax CS and GoSystem Tax are trademarks of Thomson Reuters.
CPA2Biz is located at www.cpa2biz.com. It markets the full range of AICPA publications, courses and conferences. The Tax & Accounting business of Thomson Reuters is located at http://www.thomsonreuters.com/products_services/taxacct/?view=Standard. It markets a full range of information, software and service products for accounting firms.
About Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto Stock Exchange (TSX: TRI) and New York Stock Exchange (NYSE: TRI). For more information, go to www.thomsonreuters.com.
The Tax & Accounting business of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Tax & Accounting includes the Corporate Software & Services, Professional Software & Services, and Research & Guidance business groups.
About CPA2Biz, Inc.
CPA2Biz markets products and services to financial professionals nationwide. A privately held company, CPA2Biz is the for-profit subsidiary of the American Institute of CPAs (AICPA), the premier national association for certified public accountants.
The CPA2Biz site is the leading e-commerce site for the accounting profession and is ranked by Internet Retailer as one of the top five hundred e-commerce sites in the United States. More than 200,000 CPAs use www.cpa2biz.com to access articles, online literature, continuing professional education, career resources and a selection of more than 1,000 professional products and services. Through its partnership with the American Institute of Certified Public Accountants (AICPA), CPA2Biz is the exclusive marketing agent for AICPA products and services.
CPA2Biz has also developed a number of client-focused business solutions programs (e.g., payroll, banking) that enable CPAs in practice to build stronger relationships with their business clients. Today, more than one half of the CPA firms in the U.S. are enrolled in one of these programs.
About the AICPA
The American Institute of Certified Public Accountants (www.aicpa.org) is the national, professional association of CPAs, with more than 360,000 CPA members in business and industry, public practice, government, education, student affiliates, and international associates. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination.
The AICPA maintains offices in New York, N.Y., Washington, D.C., Durham, N.C., Ewing, N.J., and Lewisville, TX. Media representatives are invited to visit the AICPA Online Media Center at www.aicpa.org/mediacenter.
SOURCE Thomson Reuters
Ruth Ann Baker (U.S.), Public Relations Manager of Thomson Reuters, +1-972-250-7438, ruth.ann.baker@thomsonreuters.com