The most important function of the American Institute of Certified Public Accountants (AICPA) is the promulgation of rules and standards that guide audits and related services provided to nonpublic companies, governmental, and other entities.
The American Association of Public Accountants (AAPA), which gave rise to both the AICPA and its predecessors, was established in 1887. The Institute of Public Accountants (1916), the American Institute of Accountants (1917), and the American Society of Public Accountants (1921), which merged into the American Institute of Accountants in 1936, were all names that the Association went by over the years. The decision was reached at that time to limit future membership to CPAs.
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