AICPA Revamps CITP Credentials to Align with the Times

Recognizing that the environment in which CPAs work has undergone a dramatic change over the past decade, the American Institute of Certified Public Accountants (AICPA) has revised its Certified Information Technology Professional (CITP) credential to concentrate on IT expertise relating to audit and attest services and financial data components, analysis and reporting.

“Information security management has been identified by AICPA’s Annual Top Technologies Survey as the most important issue affecting IT strategy for the last seven years in a row,” said Jim Bourke, AICPA CITP Credential Committee Chair, in announcing the change on June 15, 2009 at the AICPA Tech+ Conference in Las Vegas.  “CITPs are relied upon to effectively manage information while ensuring that data is kept secure.”

The CITP credential recognizes accounting professionals who combine IT expertise with the unique skill set of a CPA.  Those with the credential provide assurance to financial information or insight to business data, process or reporting.

The CITP credential was first launched in 2000.  Since then, the CPA work environment has undergone significant changes, prompting the AICPA to enhance the credential’s strategic direction.

“Enhancements to the AICPA’s CITP Credential Program recognize CPAs’ unique ability to provide business insight by leveraging knowledge of information relationships and supporting technologies,” said Steve Winters, director of specialized communities and practice management for the AICPA.  “The enhanced risk management and information assurance components of the credential are of particular importance during times of financial uncertainty.”

Requirements to obtain the CITP are being revised to include the following criteria:

• A valid unrevoked CPA license
• Five years of experience in the field of accounting
• Minimum of 1,000 hours experience in areas pertaining to the body of knowledge
• Minimum of 75 hours of education in areas pertaining to the body of knowledge
• Credit towards qualifying may be earned for holding certain related credentials

Qualification for the new credential is based on a 100-point system.  Accountants already holding certain related credentials offered by other organizations can receive 35 points for one of those designations. They include:

• ISACA’s Certified in the Governance of Enterprise IT (CGEIT)
• ISACA’s Certified Information Security Manager (CISM)
• ISACA’s Certified Information Systems Auditor (CISA)
• Project Management Professional (PMP)
• Certified Information Systems Security Professional (CISSP)
• Certified Management Accountant (CMA)
• Certified in Financial Forensics (CFF)
• Certified Internal Auditor (CIA)

The AICPA is currently developing a credentialing exam and the appropriate preparatory educational materials.  As such, no exams for the revised credential will be held the first year.

Currently, there are 1,460 CITP credentialed CPAs.  CITP credential holders must pay an annual fee of $350 and meet CITP recertification requirements every three years.  More information on the revised credential can be found on the CITP home page.
 

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