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Download or read online on humanefarmfunds. The Last Seven Pages Two Days To Live What Would You Write? CIA vs CPA has been a hot debate among auditors. Everyone should agree that CPA is the qualification to go for in accounting.
Not only that the AICPA has the longest history and the highest number of members, the qualification is good for accountants in all disciplines. The barrier of entry for CPA is also the highest. State boards requires a 4-year bachelor degree and 150 credit hours, together with relevant experience supervised and verified by certified public accountants. Because of this high standard, employers value the CPA as THE designation in the accounting industry. Since the business community considers CPA the standard for general accounting, a certified public accountant can work in public accounting, management accounting, governmental accounting, taxation, financial advisory, compliance and other consultation work.
CPAs are valued across industry and discipline. When new opportunities emerge, they are often able to take the first-mover advantage. If you are an internal audit professional, it makes the most sense to get a qualification dedicated to the industry. Certified Internal Auditor is the only global designation in the field of internal auditing and compliance. I won’t say everyone is thrilled to work as an internal auditor or compliance officer.
However, the financial crises since the turn of the century have led to ever increasing demand for compliance professionals every year. It’s cheaper, easier, and it might just give you the competitive boost you were looking for all along. The CIA exam has three parts focusing mainly in internal audit. The CPA exam has four parts covering an incredibly wide range of topics, from financial accounting, management accounting, audit, taxation, business law to economics, strategic planning, and general business concepts. Total duration of CIA exam is 6. 5 hours vs CPA exam’s 14 hours. The education requirements are quite different.
For CIA, all you need is a bachelor degree, and even this can be exempted by a certain number of working experience in internal audit. For CPA, you must have a 4-year bachelor degree, and in most cases, 5 years of higher education because of the 150 credit hour rule. There are also minimum accounting and business courses. CIA exam, IIA certificate holders, and supervisors with or without the certifications can verify your experience. If you aspire to be a senior member in the internal audit department, you should aim for both qualifications.
Get both, then you won’t be turned down for any IA job. I had to have my CIA to become auditor II and CPA to become supervisor. Now I am one of the few people in the office with both and nothing is holding me back from getting promoted further and getting supervisor and above jobs at other places. Should I Aim for Both If I Want to Switch Jobs? This could be an even stronger reason for you to get both qualifications. If you are a proven performer, your company could potentially overlook the fact that you do not have certifications when considering you for promotion.