The primary goal of the paper is to understand and determine the differences between CPA (Certified Public Accountant) and CIA (Certified Internal Auditor) while comparing the concepts and depicting the key aspects of these two professions. In turn, the educational requirements and certifications have to be assessed by CIA and CPA while taking into account the methods approaches in the state of Georgia. It remains apparent that the requests might vary depending on the states, but they tend to have some similarities simultaneously. Lastly, it is evident that the awareness of these principles will determine the development of a career path and define the professional future, as the understanding of the requirements will contribute to selecting the right educational processes.
Firstly, the differences between CPA and CIA have to be determined to avoid confusion concerning these principles, as these certifications belong to the slightly different areas of operations. Firstly, it has to be mentioned that CPA is an accountant, who has completed the required education and have enough of the work experience to be considered as a public accountant (NYSSCPA, 2016).
In turn, the qualified accountants have to complete educational programs (CPE) on a regular basis to be aware of the accounting standards to assure the relevance of their practice (NYSSCPA, 2016). It remains apparent that the accountant is responsible for maintaining the transactions and guarantee their compliance with the financial standards while avoiding the potential presence of fraud. In turn, it is evident that the auditors also have to complete an examination to be able to be considered as CIAs.
In this instance, the internal auditor is represented by the independent professional to assure the ability of the company to comply with the financial reporting standards (Pickett, 2010). It remains evident that despite having duties in similar areas, the professional has different responsibilities and roles in the financial segment of any organization.
In turn, the educational and certification requirements have to be determined to assess the complexity of the professions. In this case, CPA is evaluated in the first place. In this instance, the first requirement is the ability to show the completed bachelor degree presented by a recognized institution (The Georgia Society of Certified Public Accountants, 2016). In turn, it remains apparent that the degree has to be related to the business administration and has the presence of accounting courses by having 150 semester hours completed (The Georgia Society of Certified Public Accountants, 2016).
Additionally, the individuals have to have 2,000 hours of work experience in public accounting; 2,000 hours in the business field or teaching, or have a combination of these practices (The Georgia Society of Certified Public Accountants, 2016). Furthermore, a person has to have a supervisor before completing testing, and one can proceed to CPA examination after complying with all the principles mentioned above. In this instance, it remains apparent that the ability to acquire education is a necessity, as expanding the duties while becoming a CPA requires a sufficient level of education and work experience.
Furthermore, the requirements for the CIA have to be determined to understand the necessity of education and certification to become a professional in the future in Georgia. Nonetheless, it remains evident that they have a tendency to vary depending on the level of education. In this case, The Institute of Internal Auditors offers a relevant program for the development of the internal auditors.
Nevertheless, the minimal requirements for the completion of the program are present. Firstly, an individual has to have a higher education in any sphere (The Institute of Internal Auditors, 2016). In turn, the candidate for the certifications has to have seven years of the verified work experience to be eligible for the application to the CIA (The Institute of Internal Auditors, 2016). Nonetheless, this approach is suitable for the application with no bachelor degree or equivalent. In turn, only two years of work experience are required after the completion of the bachelor degree, and only one year is needed for the applications holding master degree (The Institute of Internal Auditors, 2016).
Additionally, the applicants have to provide the reference from the authorized supervisor to assure his/her qualifications (The Institute of Internal Auditors, 2016). It could be said that the application process is similar to the acquirement of CIA qualification, as the auditors and accountants have their duties in the related fields.
In the end, it remains apparent that both of the certifications have a substantial set of requirements to comply with before being able to be considered as a suitable candidate for the approval. Nonetheless, it could be said the primary similarity is the necessity of the work experience in the financial field including accounting and auditing due to the practical nature of the professions. In this instance, the role of all requirements cannot be underestimated as they contribute to the sufficient development of an individual as a qualified professional. In this case, the understanding the development path will have a beneficial influence on an individual while selecting becoming CIA or CPA.
References
NYSSCPA: Accounting terminology guide. (2016). Web.
Pickett, S. (2010). The internal auditing handbook. Hoboken, NJ: John Wiley & Sons.
The Georgia Society of Certified Public Accountants (2016). Georgia State Board of Accountancy FAQs. Web.
The Institute of Internal Auditors: Certified Internal Auditor eligibility requirements (2016). Web.