At its spring meeting last April, the Council asked the AICPA to investigate various options to enhance the credentials, which are Personal Financial Specialist (PFS), Certified Information Technology Professional (CITP), and Accredited in Business Valuation (ABV). The PFS designation currently has 3,188 holders. ABV has 1,536, and CITP has 527.

"After studying the issue from a variety of perspectives, we determined we could retain the credentials if we shifted our focus from trying to achieve national market recognition to supporting the underlying disciplines," said Bruce Harper, Chair of the National Accreditation Commission.

"We solicited the opinions of our credential holders and the greater membership through a series of Town Hall teleconferences, online surveys and Invitations to Comment," added Anthony Pugliese, AICPA Vice President – Member Innovation, who supervises the credential programs. "We explored all conceivable scenarios prior to our presentation to the Board."

Pugliese noted that support of the three underlying disciplines -- Financial Planning, Information Technology, and Business Valuation/Forensic & Litigation Services -- would benefit all AICPA members who either practice or have an interest in those areas.

The board's funding recommendations encompass the credentials, the underlying disciplines and the AICPA membership sections where the credentials reside. Personal Financial Planning would receive a total of $4.6 million in excess of revenues through 2006. Information Technology would receive $5.6 million in excess of revenues through 2008. Business Valuation/Forensic & Litigation Services would receive $5.75 million in excess of revenues through 2008.

The recommendation stipulates that all three credentials achieve a financial break-even point. The CITP and ABV credentials must reach that point by July 31, 2008. PFS, which has existed longer than the other two credentials, must break even by July 31, 2006. In addition, there must be a minimum number of credential holders by those dates: 3,600 for PFS; 2,700 for ABV; and 1,700 for CITP.

The board further recommended that retention strategies for the credentials not include national branding and advertising campaigns because of resource constraints and the effort required to achieve national recognition. Instead, it urged credential holders to promote the designations in their local markets. The AICPA would provide marketing tools to assist them.

The Council will vote on the board's recommendation at its fall meeting in New Orleans on Oct. 20 and 21.