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AICPA
The American Institute of CPAs (AICPA), led by Barry Melancon since 1995, sets auditing standards and administers the CPA exam for 140,000 members...
AICPA
Founded in 1887, the American Institute of CPAs is the world's largest professional accounting body, representing CPAs across public practice, industry, government, and education. Barry Melancon has served as President and CEO since 1995, overseeing the Institute's evolution from a standard-setting body into a diversified organization with a significant commercial footprint. The AICPA sets auditing standards for private companies through the Auditing Standards Board and co-sponsors the CPA exam, which over 100,000 candidates sit for annually. It generates revenue primarily through membership dues, exam fees, continuing professional education, and its joint venture with CIMA — the Association of International Certified Professional Accountants — which operates a for-profit credentialing business (CGMA designation). The organization also owns and manages the Uniform CPA Examination, a monopoly franchise that produces predictable cash flows. The AICPA's leadership structure combines a volunteer board of directors with a paid executive staff. The Institute maintains offices in Durham, New York, Washington DC, and Ewing, NJ, employing roughly 550 professionals. In 2024, the AICPA launched a modernization initiative to overhaul the CPA exam content and delivery model, responding to declining candidate numbers and increased competition from other professional credentials. The Institute also operates the AICPA Foundation, which awards scholarships and grants to foster accounting education. What structurally differentiates the AICPA is its dual identity: a nonprofit professional association that also runs a substantial commercial software and credentialing operation. This hybrid structure means the organization must balance member service with revenue generation, creating inherent tension in how its capital is allocated between member programs and commercial reinvestment.
General information
Firm type
other
Year founded
1887
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Durham
Corporate office
Durham, NC, United States
Additional offices
New York, NY, United States · Washington, DC, United States · Ewing, NJ, United States
Principals
Barry Melancon
President & CEO
Sector focus
Frequently asked questions
Who governs the AICPA, and how are board members selected?
The AICPA is governed by a volunteer Board of Directors elected by the membership. The Board sets strategic direction and approves major initiatives. The President and CEO is appointed by the Board and serves as the chief executive officer of the Institute.
How does the AICPA generate revenue beyond membership dues?
The AICPA derives significant revenue from the Uniform CPA Examination — a monopoly franchise that generates tens of millions annually — plus continuing professional education courses, conferences, and its joint venture with CIMA (the Association of International Certified Professional Accountants). This joint venture markets the CGMA credential globally, generating licensing and program fees.
Does the AICPA have a for-profit subsidiary or investment arm?
The AICPA operates its for-profit commercial activities through the Association of International Certified Professional Accountants, a joint venture with CIMA. This entity is structured as a non-stock corporation but operates with a commercial revenue model. The AICPA itself is a 501(c)(6) professional association, not a family office or investment entity.
What is the AICPA's relationship to state CPA societies and the PCAOB?
State CPA societies are independent organizations that license CPAs within their jurisdictions. The AICPA sets national standards and administers the CPA exam but does not issue licenses. The Public Company Accounting Oversight Board (PCAOB) sets audit standards for public companies, while the AICPA's Auditing Standards Board does so for private companies. The PCAOB and AICPA are separate organizations.
How many staff does the AICPA employ, and where are its offices?
The AICPA employs roughly 550 staff across four offices: Durham (HQ), New York City, Washington DC, and Ewing, New Jersey. The Durham office handles operations and technology, while New York focuses on standards and public policy.
What major initiatives has the AICPA undertaken in the last five years?
The most significant recent initiative is the CPA Evolution, a multi-year redesign of the CPA exam and credentialing process. It launched in 2024, shifting the exam to three core disciplines to reflect technology's growing role in accounting. The AICPA also expanded its digital credentialing platform for continuing education.
Does the AICPA invest its own capital in companies or funds?
The AICPA's primary investment activities relate to its endowment and operating reserve, which are managed conservatively and not publicly disclosed. The Institute does not operate as an allocator of third-party capital and does not make direct venture or private equity investments from its balance sheet in any material, publicly known way.
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