A new independent research study by Penn, Schoen & Berland Associates, commissioned by the American Institute of Certified Public Accountants (AICPA), shows that the CPA profession continues to garner high marks from business decision makers, executives and investors, earning favorable ratings of 97 percent, 95 percent and 89 percent, respectively. In fact, business decision makers and executives ranked CPAs higher than physicians by several percentage points.

CPAs also ranked higher than other financial services-related professions, such as insurance agents, bankers, chief management consultants and stock research analysts. More than 500 high-level business decision makers and executives and 500 investors responded to telephone interviews during March 2005.

The research illustrates that positive attributes traditionally associated with CPAs have improved from 2003 figures. For example, CPA ratings in the areas of “committed to the rules of the accounting profession,” “reliable” and “consistently demonstrates integrity and ethics” have risen. These values are the bedrock of the CPA reputation and are being reinforced through AICPA and state CPA society communications and public service programs.

There also was a statistical decline in the attribute “willing to cut corners for clients” from 2003. In 2003, 42 percent of business decision makers thought CPAs were “willing to cut corners for clients” – the statistic dropped to 29 percent in this latest research. Among investors in 2003, it was 49 percent and now is at 36 percent.

Eighty percent of business decision-makers and 70 percent of executives believe that CPAs and the accounting profession have taken steps to fix the problems that led to past accounting scandals. While 52 percent of investors agree, 71 percent of investors responding to the survey admitted they are not familiar with the Sarbanes-Oxley Act. In addition, all three groups see CPAs as part of the solution to fighting or preventing fraud (86 percent for business decision makers, 75 percent of executives and 78 percent of investors).

Results of the research will be used to develop future strategy and messages that support the CPA profession’s reputation and position as essential to business and a most trusted financial guardian.

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