Auditing, Management Advisory Services, Social Service, and the Profit Motive.

Abstract Professional accountants are accustomed to having their function misunderstood. Perhaps it is because of their relative youth in truly professional activity that accountants are still often equated with the old green eyeshade and all it implies. However, even many of those quite familiar with accounting practice today are unsure of the extent of public accountants' capacities. Not even practicing certified public accountants (CPAs) are agreed upon what their title gives them license to do. For the good of both the public and the public accounting profession, the term CPA as a professional designation needs to be defined and delimited. The individual accounting firm gains its professional reputation-undoubtedly its most valuable asset from two sources. One of these is the standing the firm name which has acquired in its immediate sphere of influence, whether that be one small community or the entire nation and beyond. This of course depends on the integrity, competence, and reliability of the firm personnel, partners, and staff. The other source, however, is a profession-wide characteristic, the title "CPA" which guarantees to the public minimums of education, experience, and integrity of those who bear this designation.