Thomson Reuters Contributes Its CPA2Biz Stock to the AICPA Foundation

The Tax & Accounting business of Thomson Reuters, in a demonstration of support for U.S. accounting education and diversity, donated its entire stock holdings in CPA2Biz, a subsidiary of the AICPA, to the AICPA Foundation, which sustains financial education and a culturally diverse profession. The Reuters donation, constituting 8.71% of the company ownership arising from its 2001 investment to help launch CPA2Biz, is the latest example of the company’s long-standing support for the U.S. accounting profession.

“With this contribution, Thomson Reuters is making a generous investment in both the CPA profession and in future generations of CPAs,” says AICPA president and CEO Barry Melancon.

“The company has a lengthy history of partnering with the profession and firms in many ways. Its initial support in 2002 was essential for us to enter a difficult marketplace by creating and delivering service tools for smaller CPA firms. The recent decision of Thomson Reuters to donate its investment to the AICPA Foundation states unequivocally that their commitment to the profession continues. We are very appreciative to Thomson Reuters for their donation.”

With accounting a top college major in a difficult economic climate and in a move to address the future demand for accounting professors, the AICPA Foundation is spearheading the Accounting Doctoral Scholarship program, a $17 million multi-year campaign to fund PhD educational opportunities. The program specifically seeks to attract seasoned professionals from the public accounting arena and prepare them for a second career in academia.

The AICPA Foundation began in 1922. It funds five minority programs: minority scholarships, doctoral fellowships, Accounting Scholars Leadership Workshop, college residency grants and the PhD Project, which encourages talented minorities to become business school professors. The foundation funds four additional accounting-education programs and two public financial-education guides on disaster preparedness and recovery.