Bob Elliott, chairman of the American Institute of CPAs, addresses students on the development of a new global business professional credential.

AICPA chairman Bob Elliott told attendees of the accounting students honors society meeting here that two weeks ago in London he participated in a meeting with accountancy representatives fron France, Germany, Hong Kong, Italy, Japan and the Netherlands.

With the U.S. and U.K. groups, Elliott said he hopes to put together a 14-country consortium. "It is not totally global yet," said Elliottt, who is also a senior KPMG partner. "But it will become global."

He said the creation of the XYZ designation represents "a new credential and what amounts to a new profession."

Elliott keynoted the annual meeting of the fraternity, Beta Alpha Psi. About 1,000 college accounting majors gathered in Washington for serveral days of meetings and seminars aimed at building chapter organizations and providing career guidance. The honors society includes students major in accounting, finance and information sciences.

"We have an historic opportunity, right now, to reposition the profession," he said. "And the opportunity is yours."

See more pictures from the Beta Alpha Psi annual meeting:

• BAP president Bernie Milano shares a moment with BAP national administrator Jodi Mutnansky.

• On the dais, Steven Albrecht, Brigham Young University professor, accepts accolades for his contributions to the profession.

• BAP past president Sam Vitkoski, of BDO Seidman, lauds the work of hard-working volunteers.

• BAP president Bernie Milano, of KPMG, checks his notebook computer while reviewing the conference's agenda.