Over the past 50 years, the financial and accounting world has been facing new challenges and opportunities. Growing global trade and a greater emphasis on worldwide investment opportunities have increased demand for reliable accounting information that is comparable across countries. This has led to more emphasis on international accounting standards and a desire for an internationally recognized accounting credential. Although these trends have caused demand for accountants to soar and are generally positive for the accounting profession, they create serious challenges for the US CPA credential. This article is intended to shed light on what the authors see as an important problem and to explore current challenges to the preeminent global status of the US CPA credential. The authors also suggest possible strategies to preserve and enhance the stature of the US CPA credential. For the US Uniform CPA Examination to be offered only in the US and its territories drastically limits access to the exam, and thus to the US CPA credential.
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