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Certified Information Technology Professional (CITP) Career Path

Certified Information Technology Professional (CITP) Career Path. May 25, 2011. Upcoming Webcasts. July 27, 2011 (Wednesday) 2:00 – 3:30 EST Considerations When Auditing a Business Reporting System Implementation and You’re Not an IT Auditor Presenters: Steve Palomino and Jose Contreras

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Certified Information Technology Professional (CITP) Career Path

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  1. Certified Information Technology Professional (CITP) Career Path May 25, 2011

  2. Upcoming Webcasts • July 27, 2011 (Wednesday) 2:00 – 3:30 EST • Considerations When Auditing a Business Reporting System Implementation and You’re Not an IT Auditor • Presenters: Steve Palomino and Jose Contreras www.aicpa.org/itinfocasts

  3. Ron Box CPA.CITP.CFF Ron is the Chief Financial Officer and Chief Information Officer of Joe Money Machinery Co., a regional heavy construction equipment distributor. Ron’s reputation as a trusted financial and technology advisor has developed over a twenty two year career. Ron is currently serving as co-chair of the 2011 AICPA Top Technology Initiatives, serves on the AICPA CITP Credential Committee, Chair of the CITP Education Task Force and the AICPA Tech+ Conference Planning Committee.

  4. James C. Bourke CPA.CITP.CFF Jim is a Partner and CIO at WithumSmith+Brown. He is responsible for overseeing all technology issues and operations for the Firm’s 15 offices and over 450 employees. Jim is the current Chair of AICPA’s Certified Information Technology Professional (CITP) credential Committee and will be a new member of AICPA Council for a three year term beginning October 2011. Jim has been named by Accounting Today as one of the Top 100 Influential People in the Accounting Profession for the last three years. Jim is also past President of NJSCPA

  5. Chandni Jalan CPA.CITP Chandni is an Audit Assurance Senior at Moss Adams, LLP in Los Angeles. She specializes in the Firm’s Financial Institution’s Practice. She recently joined Moss Adams with a total of five years of Public Accounting experience. During her years in Pubic Accounting, Chandni has performed Information Technology and Internal Audit exams for small to mid-size banks and assisted with SAS 70 engagements for various service providers. Chandni has also worked as a bank assurance consultant to many community and mid-size banks in Nebraska and South Dakota. Chandni currently serves on the AICPA Certified Information Technology Professional (CITP) Credential Committee.

  6. James K. Boomer CPA.CITP Jim is CIO and a Shareholder with Boomer Consulting, Inc. His responsibilities include oversight of The Boomer Technology Circles™ and The Performance3 Management Program™. Jim also serves as a strategic technology consultant and manages the firm’s internal technology team. Jim is a member of the AICPA TECH+ planning committee and was recently named the chair of the KSCPA Technology Task Force.

  7. Agenda CITP Credential • Business & Industry • Public Accounting • Early Career Development • Consulting

  8. CITP in Business and IndustryPresented by Ron Box

  9. The CITP in Business and Industry Technology is a fundamental tool in virtually all businesses today, regardless of size or industry. The rise of technology has created a more competitive global business environment with business insight creating a competitive advantage. In many businesses, there is a gap between the effective use of technology and trusted business expertise. The skill set provided by the CITP Body of Knowledge represents how a CPA can combine a broad knowledge of technology with traditional CPA expertise to be that critical bridge.

  10. The CITP in Business and Industry The CITP Body of Knowledge is separated in to Five Dimensions From the perspective of a Chief Financial Officer, these dimensions reflect major areas of concern for the business. Risk Management Fraud Considerations Internal Control and IT General Controls Evaluate, Test, and Report (Attest Functions) Information Management and Business Intelligence - (Competitive Advantage) Consider how the CITP Body of Knowledge can enhance your skill set and your career in industry

  11. Risk Management Evaluation of risks that could impact the possibility of a material misstatement or the vulnerability of an organization’s assets. Key Questions Every Business Must Answer Is my data valid? What could cause my inputs, calculations, and outputs to yield significantly incorrect conclusions? How do I mitigate known risks?

  12. Fraud Considerations Consider the risks of material misstatement due to fraud and determine specific IT techniques to detect fraud. All organizations face a risk of fraud. Technology can be a great enabler of fraud. Have the IT processes and personnel been analyzed to identify computer facilitated fraud? Have bank wires and ACH transfers been secured?

  13. Internal Control and IT General Controls Establish internal controls to monitor information technology. Ensure Confidentiality, Integrity of Data, and System Availability. Information security in all forms (firewalls, backups, storage, etc.) Companies of all sizes need IT Governance to provide policy guidelines ensuring proper change management Internal control an ongoing process to ensure sound policy safeguards for critical systems Deeply effective information security policies are the foundations for reliable data

  14. Evaluate, Test, and Report The Attest Function Types of Audit and Attest Functions Appears to be a Public Practice Focused Dimension Industry staff should understand the audit environment that the business will have to work within.

  15. Information Management & Business Intelligence • Competitive advantage in utilizing enterprise information. • Releasing key data from system silos. • Proactive creation of data warehousing and customized dashboards showcasing key performance indicators. • Provide business insight using technology as a tool. • The CITP in industry is in a unique position to be a trusted business advisor acting as a bridge between finance and IT.

  16. CITP in Public AccountingPresented by Jim Bourke

  17. The CITP in Public Accounting • The CITP Credential for those CPA's practicing in public accounting is a huge differentiator!  Whether the CPA is involved in performing compilations, reviews, audits, agreed-upon procedure engagements or engaged in consulting under Statement on Standards for Attestation Engagements (SSAE) No. 16, the CITP Body of Knowledge provides the CPA.CITP with a wealth of information and guidance regarding the impact that technology will have upon the engagement. In addition, the CITP credential earned by the CPA is an indicator that the CPA has the required expertise and comprehensive knowledge to how technology effects the financial reporting environment.

  18. The CITP in Public AccountingTouching all Five Areas of the BOK!

  19. The CITP in Public Accounting • Audit

  20. The CITP in Public Accounting • Service Audits (SSAE16)

  21. The CITP in Public Accounting • Internal Controls Engagements

  22. The CITP in Public Accounting • Forensics

  23. The CITP in Public Accounting • Litigation Support

  24. The CITP in Public Accounting • IT Industry Focus

  25. The CITP in Public Accounting • Niche Expansion

  26. The CITP in Public Accounting • CITP Stands Out

  27. The CITP in Public Accounting • Proposal Differentiator!

  28. CITP for a Young CPAPresented by Chandni Jalan

  29. Why is Information Technology important to a Young CPA? • A competitive edge • More career options • Value added skills for the clients and the audit team • Numerous networking opportunities • Demonstrated expertise in Accounting and Information Technology

  30. Why Certified Information Technology Professional (CITP)? • Issued by AICPA and only available to CPAs • Demonstrates an understanding of the CITP Body of Knowledge • Out of the box auditing by linking Accounting and Auditing to Information Technology

  31. More about the Credential: • Received an extreme makeover in the past couple of years • Recent launch of the CITP exam • Significant amount of resources available to the AICPA IT section members • More information about the credential and the exam at: • http://www.aicpa.org/InterestAreas/InformationTechnology/Membership/Pages/CITPExamination.aspx

  32. CITP Exam • Take the CITP exam before it becomes mandatory!

  33. Be proactive and take charge; it is YOUR career

  34. CITP in ConsultingPresented by Jim Boomer

  35. Focus of Our Practice • Helping CPA firms bridge the gap between technology and practice management. Technology Firm Strategy

  36. IT Governance Defined • A framework that ensures that technology decisions are made in support of the business’ goals and objectives. • - Source: AICPA

  37. Strategic Alignment IT Strategy Marketing Strategy Firm Strategy HR Strategy Talent Development Strategy

  38. Value of CITP Credential • Communicates to current and potential clients: + A level of technology proficiency necessary to advise them on how to best leverage technology to support their business strategy. An understanding of the business environment in which our clients operate and the challenges they face. Thus, enhancing my role as a most trusted business advisor

  39. Differentiator – at a Glance • Sets Boomer Consulting, Inc. and myself apart from competitors lacking the credential Reputation, IT Credentials, etc.

  40. Differentiator – Upon Further Review • Once in discussions with a potential or existing client, you can point to your ability to: • Identify & enhance critical success factors • Communicate the business technology information needed, when it is needed, and in an actionable format • Recommend and implement technology that will catapult your client’s business to greater success • Apply real world business knowledge and experience to ensure a return on your client’s technology investment

  41. The CITP Body of Knowledge offers a wide array of opportunities for consulting services

  42. A Conversation Starter • What does CITP mean?

  43. Questions & Answers

  44. CITP Requirements • AICPA Member in good standing • Hold a valid and unrevoked CPA certificate • Meet the Business Experience Requirement • Minimum of 1,000 hours in support of the Body of Knowledge • Lifelong Learning Requirements Minimum of 75 hours in support of the Body of Knowledge • First CITP Examination: July 27 - August 31, 2011 • Registration closes on July 20, 2011

  45. IT Community Benefits at a Glance • CITP Credential holders receive: • Customizable marketing materials, including targeted brochures that highlight your ability to leverage technology for real business results. • Discounts on Educational programs, such as AICPA Tech + Conference, National Advanced Accounting and Auditing Technical Symposium (NAAATS), Controller’s Conference and IT Audit School Program. • Discounts on valuable software and tools, including IDEA products. • Valuable technology content, including discussion papers, studies, and practice aids. • Communications, including electronic newsletter, podcasts, featured articles, profiles, and news about the profession and the IT Community. • Networking groups and IT Community events at Tech + Conference • To find out more about the Certified • Information Technology Professional (CITP) Credential and IT Section Membership, go to • www.aicpa.org/infotechfor more details.

  46. Ron Box, CPA.CITP.CFF • rbox@joemoney.com • Jim Bourke, CPA.CITP.CFF • jbourke@withum.com • Chandni Sarawagi, CPA.CITP • chandni.jalan@mossadams.com • Jim Boomer, CPA.CITP • jim.boomer@boomer.com

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