Broad-Base

Generally referring to an index, it indicates that the index is composed of a sufficient number of stocks or of stocks in a variety of industry groups. See also: Narrow-Based.

Broad-Based Index

An index that consists of many stocks or stocks in many different industries. Broad-based indices are not terribly useful in gauging the performance of individual industries, but help give an indication on movements in the broader economy. An example of a broad-based index is the Wilshire 5000. See also: Narrow-based.

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"As these firms began to position themselves as broad-base business professional services, they continually position them selves not as CPAs," Melancon explains.

Melancon says AICPA research finds that the marketplace will demand a professional with three attributes: global expertise; something that will clearly brand CPAs as broad-base business advisers; and something that will attract the brightest business minds, who will never be willing to do what it take to become a CPA.

CONFLICT OF INTEREST?

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