The release mentioned quoted "Erik Asgeirsson, president and CEO of CPA2Biz, a leading cloud solutions provider and subsidiary of the AICPA" and then mentioned Intacct, with which CPA2Biz has a broad alliance, as a cloud vendor. I said this should never have happened. Asgeirsson said this week, "We should have mentioned our affiliation to Intacct. On hindsight I also think it would have been better not to include CPA2Biz in the release. We should have done a separate release related to our support and interest related to the SOC reports which I think our extremely important for the web based solutions we are distributing." He made the point that many nonprofits have for-profit operations. But there's a big difference. I don't have to be licensed by a governmental body to be an AARP member. I'm not subject to discipline. I don't have any guidance to follow (other than pay my dues.). In many ways, the AICPA has quasi-governmental functions.
Estimated reading time: 1 minute, 7 seconds
CPABIZ'S ASGEIRSSON: WOOPS
In both this newsletter and in the Progressive Accountant magazine, a sister publication, I chided the American Institute of CPAs and its for-profit arm, CPA2Biz, for its handling of a press release in which the AICPA announced its new Service Organization Control reports. The SOC reports succeed SAS 70 and are designed for companies that outsource services to third parties via the cloud.
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