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October 12, 2000

Contact: Kathy McDonald
Executive Vice President, CPAmerica International
(352) 375-2324

For Immediate Release

CPAmerica International Launches CPACareerNet

ALACHUA, Fla. – CPAmerica International, the world's largest network of CPA and consulting firms in alliance with Horwath International, announces plans to launch CPACareerNet, a national employee recruiting service designed by CPAs for local CPA firms and their clients.

"With a 40 percent decline in the number of CPA examination candidates, local firms must act now to establish a national recruiting voice and presence through a focused, well-coordinated effort. Going to work for a Big 5 firm is not the only option for top people desiring careers in public accounting," said CPAmerica President Douglas H. Thompson, Jr., CPA, who created the CPACareerNet concept. "Many local CPA firms offer equally outstanding or better career opportunities. Unfortunately, no one is carrying their message to the marketplace."

Plans for the recruiting venture were unveiled at CPAmerica's Leading Partners Retreat in Atlanta in late September. Since then, 43 CPA firms have subscribed to the network.

"Never before has a local CPA firm had such an opportunity to establish real advantage in the recruiting marketplace," says Kathy McDonald, CPAmerica executive vice president. "This one-of-a-kind, largely Internet-based network draws on subscriber firms' collective national power to promote job opportunities and identify qualified employees, both for large local CPA firms and for their client companies."

Another 27 founder subscribers in open market areas are being sought prior to network activation. A pre-activation subscription rate is being offered to the first 70 founder subscriber firms to sign on by December 2000. Network activation is anticipated for summer of 2001 at which time subscriber rates will be increased.

The objective of CPACareerNet is to arm CPA firms with access to an extensive national database of experienced CPAs, college graduates, executives, managers, interns and other accounting professionals looking for employment opportunities in the financial services arena. Each subscriber is awarded an exclusive market area based on population. Over the next three years, 200 market areas will be identified, at which time subscriptions will be closed.

"The recruit in Seattle needs to learn of that fabulous opportunity to work with the outstanding, local CPA firm in Miami, and vice-versa. Ultimately, we'll have 200 top, local CPA firms across the United States interviewing, not only for themselves, but for all other firms in CPACareerNet," Thompson said. "Currently, only the national firms recruit nationally. We're going to change that."

CPACareerNet helps subscriber firms share the cost of locating qualified applicants by providing manpower to actively recruit applicants from across the nation and around the world. Cooperation among national subscribers will enable extensive campus recruiting.

Network recruiting materials will be available to subscriber firms. An in-house human resource professional will provide training and assistance with interviewing techniques, personnel assessment tools, development of position descriptions, and other human resource-related functions.

"CPACareerNet is intended to be a premier national career opportunity center for accounting professionals and executive positions," says CPAmerica IT Services Director Al MacKay, who is developing the project. "It's designed to be a one-stop location for applicants and subscriber CPA firms to search for accounting and executive professionals."

Current plans call for the development of public and private chat rooms to let subscriber firms host an "open house" or a "virtual interview" of prospective applicants.

CPAmerica will sponsor the new subsidiary network to include not only member, but also nonmember firms in open market areas. Over the past decade, CPAmerica has previously launched many other new ventures to capitalize on the collective power of CPA firms, including CPA Mutual™ Insurance Company of America, the CPA Connect™ small firm network, and CPA Wealth Advisors™ financial services network.

Founded in 1978, CPAmerica includes more than 70 large, independent CPA firms across the United States. CPAmerica also has affiliate members in 300 offices around the world through its strategic alliance with Horwath International. The CPAmerica/Horwath alliance includes more than 10,000 professionals worldwide whose combined firm revenues surpass $1.3 billion. CPAmerica provides professional sharing opportunities, continuing education, marketing and practice management support to its member firms.

For more information about CPACareerNet, contact Kathy McDonald or Al MacKay at CPAmerica's executive office in Gainesville, Florida, at (352) 375-2324.

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