Cognitors of the World Unite!
Re: AICPA's Plan for Cognitor Designation Forges Ahead
From: Roman H. Kepczyk, CPA, InfoTech Partners North America, Inc.

For the past few months, the AICPA has been talking about the development of a global designation (using the XYZ placeholder) that would more accurately reflect the true essence of what CPAs as business professionals are doing today and what they will be doing in the future. This designation will go beyond the basic assurance functions CPAs were originally licensed to perform and expand the scope to incorporate the "global MBA" breadth of knowledge that most CPAs actually practice within. In addition, it will bring the ethics and integrity that has made us "the most trusted business advisor" to a worldwide level - that of the Cognitor.

Our understanding is that the name Cognitor was created using the root words dealing with thought and knowledge, which is where today's CPA effectively adds value to clients. Similar to the Xerox name when it first came out, it invokes a wide range of responses because it is an unfamiliar term, but eventually becomes a household name with regular usage just as the CPA has become.

Cognitors are professionals that have a standardized range of business skills that allow them to competently practice business (much like doctors practice medicine). They develop sub-specialties (such as tax, audit, business valuation, information technology, etc.) in which they must maintain competency by regular continuing professional education and periodic testing to insure a current level of competency. Unlike the current CPA designation, which is different within the more than fifty jurisdictions, it is a standardized designation making it portable (if you move or work in another location, you don't have to go through local licensing).

An important aspect of the Cognitor designation is that it is being developed along with the Institutes of Accountancy for at least seven other countries that realized the same need for a standardized global business professional. This will give the designation a global perspective to
reflect the nature of business today and in the future.

We are living in an period of unprecedented global change, which is impacting how we as professionals live and work. Remember, change always comes bearing gifts to those that take advantage of its opportunities and it invokes fear in those that want everything to "just stay the same way." In the end, the change happens anyway and those that embrace it are the leaders of the future. Cognitors of the world unite!

NOTE: The Cognitor designation was presented to the Arizona Society of CPAs on July 28, 2000 and first impressions ranged from bewilderment to visions of a CPA with a helmet and sword going into cyberspace to conquer bad auditors. Amazingly by the end of the day, participants had become comfortable with the term and were using it like "FASBs." There will be much debate on the Cognitor designation over the next few months. We implore you to listen carefully and think about the future of the profession when it is presented.

EDITOR'S NOTE: Roman H. Kepczyk, CPA, is President of InfoTech Partners North America, Inc., a firm that partners exclusively with CPA firms on their internal strategic technology management. You can find this article on their Web site at ttp://www.itpna.com/000731b.htm

-- Nov. 28, 2000

Read more Letters to the Editor regarding the Cognitor designation.