The CPA Journal Millennium Series continues in this, the first month of the year 2000, with a double dose of the future. The first dose is a vision of American Express Tax and Business Services (TBS) in the new millennium by Gerry L. Golub, the company's chair. Golub talks about what it means to be part of a blue-chip company with sophisticated compensation systems and the possibility of compensation tied to stock prices. Golub's vision includes a few surprises, especially regarding the role of commissions and referrals.
The second dose of the future is administered by Stephen G. Butler, chair and CEO of KPMG LLP and chair of KPMG International. His vision of the future departs from convention: There will still be auditors, but they will move at warp speed to provide assurance to the public about information essential to thriving capital markets. The need for capital to build the firm of the future will shape its structure. Just as Golub sees stock-based compensation, so does Butler.
Both visions will be constrained, however, by regulators. The future of the profession will depend upon whether internal structures that protect the public interest while raising capital and attracting new talent can be built to the satisfaction of the SEC, the Independence Standards Board, and state regulators. *
The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at public practitioners, management, educators, and other accounting professionals. It is edited by CPAs for CPAs. Our goal is to provide CPAs and other accounting professionals with the information and news to enable them to be successful accountants, managers, and executives in today's practice environments.
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