Therefore, familiarizing yourself with the differences between the 2 can be very helpful for your decision. First of all, the U. Secondly, the CMA is great for management professionals, especially in financial management fields.
On the other hand, the CIMA focuses on different aspects of accounting in the business world, so it makes you consider current trends and industry shifts. But really, the best way to decide between these and any accounting certifications is to understand how each will help you reach your career goals.
Neither is better than the other; they are both good and respected certifications. Therefore, you just need to know what you plan to do with them. The Certified Information Systems Auditor CISA certification is currently the most recognized designation for information systems IS audit control, assurance, and security professionals.
Due to a series of financial scandals, the Arthur Anderson fallout, and problems within internal control, the CISA certification has become quite popular. In fact, the number of CISAs has doubled in the last decade. But the CISA has been around for a while now.
ISACA itself began in to benefit information systems audit, assurance, security, risk, privacy, and governance professionals. ISACA membership has quadrupled in the last 10 years, and the association now has more than , members in countries. Becoming a CISA is a good idea for auditors planning to prove their competency in IT auditing and their dedication to the industry.
As a very technical and specialized certification, the CISA can help you qualify for exclusive career opportunities that would otherwise be out of reach. Of course, one of the biggest draws is the increased salary you can earn as you advance in the industry. Such expansive payouts are the result of the high demand for CISAs in the wake of a growing emphasis on internal control.
There are only 2 requirements for securing the CISA:. IT skills are more important than ever, and with the CISA, you can be invaluable to the information systems industry. You can also find CISA discounts to help with your preparation. When deciding which certification is better, you do want to consider what you will do with your certification. What career path do you plan to take? Understanding your focus before you get started will help you plan which certification is for you. The CISA is recognized globally in the audit and control fields as well as information security systems.
Both courses have limitations and qualifications, so choosing the best one requires you to evaluate your needs and future career path.
The CIA is a good option if you want to be an internal auditor but do not have a specific area of specialization. Training and prep might add to those costs, depending on the books and other materials you may choose. The Enrolled Agent EA designation is the desirable credential for tax preparers. An enrolled agent is an expert in tax preparation. Together with CPAs and attorneys, enrolled agents have unlimited rights to represent taxpayers before the IRS for audits, collections, and appeals.
CPAs generally have a higher long-term earning potential, but EAs have the chance to earn a substantial amount during tax season. And while CPAs and attorneys typically begin their careers at firms before moving into private practice if they so choose, enrolled agents have their own clients and can, therefore, work at home with flexible hours. There are plenty of EA exam dates available year-round, and you can learn the best way to pass the exam with these EA exam tips.
Candidates must achieve what the IRS deems to be an EA exam passing score before they can earn the designation. Enrolled agents are tax specialists designated by the IRS. So, If you know that you want to do taxes for a living, then this designation is most likely the best choice for you. EAs know everything about taxes, such as income tax, gift tax, inheritance tax, retirement, payroll, estate, and even non-profit taxation. However, former IRS employees can qualify to skip the exam. The EA exam syllabus breaks down the testable content into 3 parts that cover tax law and policies.
As another point of difference, the EA exam pass rates are also much higher than most other accounting certification exam. Consequently, CPAs have a broader range of knowledge besides just tax accounting. They also know about auditing, business law, finance, and more. So, if you want a broader field of specialization, you should earn the CPA. Another interesting point about the CPA is that it is a license granted at the state level, while the EA is a designation given at the federal level.
Call Us. Business Skills. LOG IN. These differ from state to state, but in general you must have at least : Earned a four-year degree in accounting, business or related field Completed two years of general accounting work Pass the four-section CPA Exam Pay all applicable application and exam fees We encourage you to closely investigate the requirements of your state. All of the following salary ranges come from compensation research firm PayScale In general, CPAs make slightly more but it all depends on your job role, employer, location, and ambition.
The Real Difference: Interest The real difference between the credentials is in the career specialty. So, which accounting credential is right for you? Have a question? Need help? Contact Us. Terms of Service. The total testing time for all 4 CPA Exam sections is 4 hours. Furthermore, for all 4 sections, a CPA Exam passing score is 75 on a scale of Along with hundreds of U. Though the CPA certification is well worth the investment, the process of earning it is not cheap. International students will also have to account for travel and accommodation costs and foreign credential evaluations, if not a few other expenses as well.
Last but certainly not least in price or necessity is a CPA review course. Though, your employer might foot the bill for some of that. Maintaining the CIA designation also involves earning CPE, but again, you may get reimbursed for this annual expense by your employer. Once you pass your first CPA Exam sections, you have a rolling month period to pass the remaining 3 sections. This process will continue until you pass all 4 exam sections within the stipulations of the month window.
Furthermore, while the CPA Exam is available for the majority of the year, you can only take it during these 4 annual testing windows:. If you address the different requirements one at a time, earning the CPA certificate can take anywhere from years. But if you pass the CPA Exam during the summer after you graduate and before you start your first job, or if you take the CPA Exam while working full-time, you can cut the process down to years.
However, you can only earn the CPA this quickly if you pass each exam section the first time. For each section you fail, you push your end date back by a few months or so. And, another convenient CIA exam perk is the lack of testing windows or blackout dates.
Such scheduling flexibility means you can sit for the CIA exam at any time of the year. So, if you study for each CIA exam part for hours a week and pass each part on your first attempt, you can complete the entire exam in as few as months. The more education you have, the less experience you need. Now that you know about the differences between the CPA certificate and the CIA certificate, you can start to determine which internal audit certification is better for you by considering the specific benefits.
The advantages of the CPA certificate in particular include:. Most everyone in the industry agrees that the CPA is the accounting qualification to go for. They analyze the financial records to identify the discrepancies that can be controlled internally. Their job profile involves reviewing and assessing the current business functions and making them apt for the currently emerging challenges. Moreover, the reports generated after the thorough analysis of the financial procedures make businesses identify the risks beforehand and tackle the same.
Instead, their scope of work extends to ensuring complete risk management. In addition, they work with the senior leadership to develop methods for preventing fraud and theft against the organization. Here are the different career paths for a CIA:. Moreover, the pay may vary as per their geographic location, employer, seniority level, work experience, etc. It is necessary to sustain an active certification.
Moreover, the requirements vary as per the professional status. The CPA exam is a computer-aided licensure test. CPA exam constitutes four sections to be passed within the rolling month period. You must score at least 75 points on a scale of in each section. It is administered only at domestic or international Prometric testing centers. This is because it has extensive coverage of all aspects of accounting. CPA certification cost varies as per the state you wish to be licensed.
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