I enjoy reading Accounting Today, but I have to admit that Professors Miller and Bahnson's comments usually incense me, especially when they write about the politics of our profession, rather than accounting issues. As academics, they should be expected to express wild ideas that will never work in the real world; however, when they spend their time bashing the American Institute of CPAs, it makes me even more unhappy.
When I read Mr. Kliegman's letter praising the professors ("Hats off to Miller & Bahnson," April 2012, page 10), I could accept his comments as simply just an opinion that I do not share. When I read his comments about the Blue Ribbon Panel, I take personal offense to his uninformed and incorrect statements. I was a member of the Blue Ribbon Panel and I represented the interest of small practitioners. I have practiced public accounting for almost 38 years and the vast majority of my time has been spent working with family-owned businesses and their owners. I know small business and their issues. In fact, as a member of the AICPA Private Companies Practice Section Executive Committee for eight years and the chairman of the committee for three years, I have spoken to an untold number of professionals from across the country, and I know that they feel the same way that I do -- we need differential standards for private companies.
So Mr. Kliegman, I am glad to set the record straight that the small-business community was well represented on the Blue Ribbon Panel, and I can confidently say that the report that was issued served their interests very well.
David K. Morgan, CPA/PFS
Co-managing partner, Lattimore Black Morgan & Cain PC
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