Don't just aim for success, equip yourself for it. Our guide to the top five finance and accounting certifications will set you on the right track.
Dreaming of boosting your finance or accounting career with a professional certification? Great idea! Typically, those with top finance and accounting certifications earn more and are more likely to be promoted. Specializing in fields such as risk, forensic accounting or information systems not only demonstrates your motivation but also sets you apart in the eyes of employers.
Just remember, while the most rewarding finance and accounting certifications can significantly elevate your career, they require a considerable time commitment and financial investment. That's why choosing the one that suits you best is crucial. So, let's dive into the top five finance and accounting certifications you should consider.
1. Certified Public Accountant (CPA)
why pursue it
Granted by the American Institute of Certified Public Accountants (AICPA), the CPA license is widely recognized and considered the gold standard for accounting professionals.
where it could take you
Both the public and private sectors, including management accounting, governmental budgeting, taxation, compliance and financial strategic planning.
prerequisites
Varies by state, but typically five years of higher education (for a total of 150 semester hours), plus work experience.
exam structure
Four sections including auditing, business concepts, financial accounting and regulation, plus a separate ethics examination depending on your jurisdiction.
time to qualify
Candidates typically take around one year to complete the qualification but are allowed 18 months to pass all four exam sections with a minimum score of 75.
2. Certified Management Accountant (CMA)
why pursue it
The CMA certification is regarded as a more practical application of the theoretical concepts learned in the CPA, with many accountants choosing to obtain both.
where it could take you
Roles that involve financial management and strategic decision-making, such as risk manager, financial controller or chief financial officer.
prerequisites
Bachelor’s degree in accounting, finance or a related field, plus two consecutive years of work experience in management accounting or financial management.
exam structure
Two sections including financial planning to strategic financial management.
time to qualify
Candidates usually take one to two years but are allowed three years to pass both exam parts.
3. Chartered Financial Analyst (CFA)
why pursue it
A CFA qualification is recognized widely in investment and finance circles. Many investment companies require their securities analysts and asset managers to be CFA charterholders.
where it could take you
Besides investment banking, roles include equity analysts, fund managers, senior finance managers and chief financial officers.
prerequisites
Bachelor's degree plus four years of experience in financial services.
exam structure
Three levels, covering areas like professional standards and ethics, asset valuation and portfolio management.
time to qualify
Can be completed in two years, but most candidates take three to four years.
4. Certified Internal Auditor (CIA)
why pursue it
The CIA is the only globally recognized certification for internal audit.
where it could take you
To managerial and C-suite roles as an internal auditor.
prerequisites
Bachelor’s degree plus two years of internal audit experience.
exam structure
Three levels, covering auditing standards, internal audit management and core business concepts.
time to qualify
Typically, a year to 18 months, but up to three years are allowed. Requires around 130 hours of study time.
5. Certified Information Technology Professional (CITP)
why pursue it
The intersection of finance and technology is growing so fast that it has its own name: fintech. Granted by the AICPA, this credential is for accounting professionals extending their expertise into the impact of information security and cyber risks on reporting and operations.
where it could take you
Leadership roles in banks, big tech or fintech start-ups, plus governance and regulatory positions.
prerequisites
A valid CPA license plus relevant business experience.
exam structure
One computer-based exam with topics including risk assessment, fraud considerations, internal controls and business intelligence.
time to qualify
The exam takes four hours. Study time varies as the AICPA offers different self-study pathways to qualification.
After selecting the right certification for your career aspirations, consider whether your employer might assist with the costs. You'll also need to plan how to balance the preparation with your work and personal life. And when you're ready to level up your career, explore Randstad’s wide range of finance and accounting job opportunities for skilled professionals.