CIA or CPA Pros and Cons Comparison

Hello, this is Stephanie from IPasstheCIAexam.Com.
Today Ill share my thoughts on the benefits of getting the CIA vs CPA qualification. Before we start, lets be clear on what
these qualifications represent. CPA, which stands for Certified Public Accountant
in the US, is a license granted by state boards of accountancy in the United States. The license
is used for accountants to perform certain tasks, such as signing the audit reports.

CIA stands for Certified Internal Auditor.
It is not a license, so it does not give holders privilege as in the case of the CPA. It is
instead a certification granted by the Institute of Internal Auditors to demonstrate a level
of expertise in areas relevant to internal audit, compliance and risk management. Whats great about CPA... Here are some of the reasons why you may want
to go for the CPA designation.

First, recognition and prestige: The US CPA designation is one of the most,
if not the most recognized accounting qualifications in the world. The AICPA has the longest history
and the largest number of members among all accounting professional associations. Having
the CPA title after your name means prestige and recognition among your peers and business
partners in the accounting industry and the corporate world. Second, high standard in exam and licensing requirements The CPA designation is also respected because
of its strict rules on eligibility.

With the 150 credit hour requirement, all candidates
are required to have a level of education equivalent to a masters degree. Most states
ask for accounting and business courses similar to what is needed for an accounting major.
Also, most states require candidates to complete 1 to 2 years of experience supervised by another
CPA. The standard is high relative to other qualifications and this makes the CPA name
stand out from the crowd. Third, the most versatile among accounting qualifications The CPA exam covers a wide variety of topics,
including financial accounting, auditing, corporate governance, US taxation, business
laws and ethics, management accounting, strategic planning, corporate finance and financial management,
and economics.

Because of this, a CPA is seen to have a broad
set of skills and this opens a lot of doors for them. This is particularly the case for
new niches within accounting and finance where there is not yet a niche-specific qualification.
CPAs often have the first-mover advantage in these areas. Whats great about CIA... First, CIA is most relevant to Internal Auditors.
If you are an internal audit professional, it makes the most sense to get a qualification
dedicated to the industry.

The financial crises since the turn of the century have led to
ever increasing demand for compliance professionals every year, and Certified Internal Auditor
is the only globally recognized designation in this field.
Second, its cheaper and faster: On the practical side, its faster and more
affordable to become a CIA vs a CPA. The exam requirement is a lot simpler. The IIA takes
care of the application and certification process, versus in the CPA, you have to select
a state board of accountancy and deal with various bodies such as NASBA and the AICPA. On the exam itself, there are 3 parts vs 4
parts in the CPA exam, and the first two parts in the CIA exam are easy and straightforward.
The scope is also limited to internal audit.

In a way, you can see CIA with higher return
on your time and effort. Third, too tough to get qualified for the CPA exam: I understand that some of you may have gone
through education many years ago or outside of the US, so the latest CPA requirements
makes it very hard for you to get qualified. CIA presents the great alternative of a sound accounting qualification in the US and the rest of the world.
If you are interested in pursuing career in internal audit, risk management and compliance in big companies, the CIA qualification has the most value in this area.

Fourth, CIA is globally recognized: CIA is one of the most global accounting qualifications,
with its footprint in all regions around the world. The exam is given in 17 languages and
there are many local IIA chapters where you can get updated information in the industry
and network with professionals in your area. I hope this video helps you decide whether
to pursue the CPA or the CIA. If you have any thoughts, comments or stories to tell,
please drop me a note in the comment section.

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channel for more updates as well. Thank you for watching and see you in the next video..