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Professional Credentials— What Are Your Options

Professional Credentials— What Are Your Options. Valerie Wendt, Bisk CPA Review & Veronica Johnson, IIA. Many Credentials/Certificates. More than adding alphabet soup to your name! Strengthens the confidence others have in you Tells others your abilities have met a higher standard.

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Professional Credentials— What Are Your Options

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  1. Professional Credentials—What Are Your Options Valerie Wendt, Bisk CPA Review & Veronica Johnson, IIA

  2. Many Credentials/Certificates • More than adding alphabet soup to your name! • Strengthens the confidence others have in you • Tells others your abilities have met a higher standard

  3. Many Credentials/Certificates • Common Professional Designations • CPA • CGMA • CMA • CIA • CFE • CFP • CFA • CISA

  4. CPA www.aicpa.org/BecomeACPA/Pages/BecomeaCPA.aspx • “Gold Standard” in Accounting Profession • Passed the Uniform CPA Exam • 4 parts (Auditing & Attestation, Business Environment & Concepts, Regulation, and Financial Accounting & Reporting) • Parts can be taken 1 at a time; must pass all 4 parts within 18 months • Testing done at Prometic Testing Centers • First 2 months of a calendar quarter • Apply through your State Board of Accountancy or NASBA

  5. CPA • Where can the CPA credential take you? • Traditional Roles • Partner – Accounting Firm • CFO – Industry

  6. CPA • Where can the CPA credential take you? • Unique Roles • International Accounting • Academics • Sports Teams • FBI as a Forensic Accountant (White Collar Crime – Embezzlement, Securities Fraud, Tax Evasion or Money-Laundering) • CPA “Geek” – Design, Integrate & Implement Hardware & Software Systems • Go Green – Environmental Accountant • Hollywood – Accountant to the “stars”

  7. CGMA www.aicpa.org/membership/pages/cgma-designation.aspx • Chartered Global Management Accountant – currently 38,000 members • Joint venture between AICPA & CIMA • Globally Recognized • Recognizes your experience & skills globally • Showcases your value around the world • Complements your CPA Credential • Experience Requirement (2-3 years)

  8. CGMA • Where can the CGMA designation take you? • Business Strategist • Board of Director • Chairman • CEO

  9. CMA www.imanet.org • Certified Management Accountant • Regulated by the Institute of Management Accountants (IMA) • Two-part Exam • Financial Planning, Performance & Control • Financial Decision Making • Globally Recognized • Recognizes your experience & skills globally • Showcases your value around the world • Complements your CPA Credential • Experience Requirement

  10. CMA • Where can the CMA designation take you? • Financial Manager in industries such as: • Utilities & Energy • Manufacturing • Agriculture & Forestry • Entertainment • Public Administration • Mining • Retail

  11. CIA www.theiia.org • Certified Internal Auditor – Recognized Globally • Awarded by the Institute of Internal Auditors • Students may sit prior to graduation • 2-year professional experience to receive designation • Three-part Exam (as of 2013) • Part 1 – Internal Audit Basics • Part 2 – Internal Audit Practice • Part 3 – Internal Audit Knowledge Elements

  12. CIA • Exam (Part 1) – 125 questions over 150 minutes • Mandatory Guidance (35-45%) • Internal Control (25-35%) • Conducting Internal Audit Engagements – Audit Tools and Techniques (25-35%) • Exam (Part 2) – 100 questions over 120 minutes • Managing the Internal Audit Function (40-50%) • Managing Individual Engagements (40-50%) • Fraud Risks and Controls (5-15%)

  13. CIA • Exam (Part 3) – 100 questions over 120 minutes • Governance/Business Ethics (5-15%) • Risk Management (10-20%) • Organizational Structure/Business Processes & Risks (15-25%) • Communication (5-10%) • Management/Leadership Principles (10-20%) • IT/Business Continuity (15-25%) • Financial Management (10-20%) • Global Business Environment (0-10%)

  14. CIA • Where can the CIA designation take you? • All levels of Internal Auditor (staff to CAE) • Middle Management • CFO • C - suite (even CEO) • Audit Committees of other organizations

  15. CFE www.acfe.com • Certified Fraud Examiner • Governed by The Association of Certified Fraud Examiners (ACFE) • Emerging as the “gold standard” in the area of fraud detection & mitigation • International credential demonstrating expertise in fraud prevention, detection & deterrence

  16. CFE • Bachelor’s Degree or 8 years of fraud-related experience • 2 Years of professional experience • Computer-based exam • 4 Sections – 10 hours

  17. CFE • Where can the CFE designation take you? • CFEs earn 22% over those without the credential • Forensic Accountant • IRS Agent • External Auditor • Management Accountant

  18. CFP www.cfp.net • Certified Financial Planner • Governing Body – CFP Board of Standards • Requirements • 4 Es (Education, Examination, Experience, Ethics) • Candidates must complete extensive course of study in financial planning • Pass a comprehensive exam • Show experience in financial planning • Adhere to a code of ethical conduct • 2 Day Exam – Paper & Pencil

  19. CFP • Where can the CFP certification take you? • Financial Planning Career Path – expected to grow 41% by 2016 • Banking • Brokerage Houses • Insurance • Financial Planning Firms • Consultant

  20. CFA www.cfainstitute.org • Chartered Financial Analyst • “Gold Standard” in Investment Industry • Internationally recognized • Governed by the CFA Institute • CFA Exam comprised of 3 levels • Requirements • 4 years of qualified investment work experience • Pass all 3 levels of the CFA Exam • Hold a bachelor’s degree or be in the final year • Become a member of the CFA Institute

  21. CFA • CFA Exam – Topical Outline • Ethical & Professional Standards • Investment Tools • Corporate Finance • Economics • Financial Reporting & Analysis • Quantitative Methods • Asset Classes • Alternative Investments • Derivatives • Equity Investments • Fixed Income • Portfolio Management & Wealth Planning

  22. CFA • Where can the CFA designation take you? • Portfolio Manager • Research Analysts • Chief Executives • Risk Managers • Financial Advisors • And More…

  23. CISA www.isaca.org • Certified Information Systems Auditor • Granted by Information Systems Audit and Control Association • 2nd Most Sought After Credential – after the CPA • Globally accepted standard of achievement • 5 year experience requirement • substitutions & waivers possible • Pass an exam administered every June, September (limited sites) & December

  24. CISA • Benefits of CISA • Shows potential employers your knowledge of information security • Ability to access valuable resources • Career differentiator • And more…

  25. CISA • Five Domain Exam • Domain 1 – The Process of Auditing Information Systems • Domain 2 – Governance & Management of IT • Domain 3 – Information System Acquisition, Development & Implementation • Domain 4 – Information Systems Operations, Maintenance and Support • Domain 5 – Protection of Information Assets

  26. CISA • Where can the CISA designation take you? • IT Auditor • Systems Analyst • IT Operations Positions

  27. Beneficial Websites • CPA – www.aicpa.org/BecomeACPA/Pages/BecomeaCPA.aspx • CGMA - www.aicpa.org/membership/pages/cgma-designation.aspx • CMA – www.imanet.org • CIA - www.theiia.org • CFE - www.acfe.com • CFP - www.cfp.net • CFA - www.cfainstitute.org • CISA - www.isaca.org

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