Thinking Globally Makes a World of Difference

The world is getting smaller. It becomes more apparent with each passing day. The ongoing unrest in Libya, the economic crisis in Greece, and our own difficulties with the debt ceiling have each caused global markets to fluctuate wildly. What does this tell us? For one, it makes it increasingly clear the business world is now global.  Second, it shows that most U.S. businesses need to think internationally and integrate that thinking throughout their operations to achieve economic success and long-term viability.

Businesses used to operate within their own cocoon, impervious to events outside their countries’ borders. But now, each of us must implement strategies enterprise-wide that reflect the new environment.   

The AICPA has been integrating an international aspect in its operations as well.  Foremost, we are beginning a comprehensive effort to reinforce the CPA as one of the world’s premier accounting credentials. Our recently approved joint venture with the London-based Chartered Institute of Management Accountants is an integral part of that strategy, as is the Chartered Global Management Accountant credential that will be managed by the joint venture. We’re also working with other accountancy organizations around the world to bring visibility for the CPA in emerging markets; the first place of focus will be Brazil this fall.  We also consider and inform our members of the international implications of tax laws, legislation and regulation, as many of our members have operations beyond U.S. borders or want to get into those markets.

These are just a few examples of how the AICPA is positioning itself and the CPA profession for global viability. The process that led to these large developments is a process that all businesses/organizations can employ.

You likely already have the right people, tools and materials to add/improve international efforts to your current business model. The world is getting smaller, but there are big opportunities ahead for those who prepare.

Barry C. Melancon, CPA, President and CEO, American Institute of CPAs.