Please ensure Javascript is enabled for purposes of website accessibility
November 28, 2022

AICPA Is All About Making the CGMA Legit

This week, I'm back in my old stomping grounds of Washington, DC for AICPA Spring Council and while I really wanted to come into this looking for plenty to mock, it's actually been an interesting session, including a great speech by Bob Schieffer of CBS and a panel on "Diversity & Inclusion" that didn't leave me wondering why the profession thinks it's wise to require X number of minorities just to feel good about itself. I'm working on catching up with one panelist — Ralph Thomas of the New Jersey Society of CPAs — when I'm in Atlantic City next month for the NJSCPA Convention & Expo.

Anyhoo, of the many notable items from this year's meeting, one in particular stood out considering how liberal we here at Going Concern have been about mocking the CGMA designation. It appears the AICPA has considered our many criticisms and is ready – at last – to make the CGMA legit. This may or may not have to do with the fact that Council also considered globalization of AICPA credentials, hard to say.

Beginning January 2015, prospective future CGMAs will have to take a 3 hour exam on top of meeting experience and continuing education requirements. As most of you know, this is a major departure from the CGMA's previous requirement of "show up and, uh, know stuff or something" or, more specifically, ANY one of the following:

  • Three years of financial (including internal audit)  or management accounting experience in business, industry, or government, or
  • Two years of financial or management accounting experience plus one year in public accounting, or
  • Three years of financial/management accounting experience on a consulting basis, or
  • Three years in a management accounting role focused on the management and operation of an accounting firm.

Whether or not this is related to the AICPA's push to encourage international "credential-sharing" with similarly-minded accounting bodies that won't dilute the US CPA brand is beyond me. Thoughts?

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

an excited woman looking at her computer

Hey Tax People, You’ll Be Thankful For This Remote Job That Promises No More Than 40 Hours a Week EVER

Those of you dreading the idea of yet another busy season (so, all of you) will be interested in this gig: how’s 30 to 40 fully remote hours a week sound to you? So not only will you never have to go into the office, you won’t have to sacrifice all your evenings at weekends […]

Maybe 2023 Will Be the Year You Get That Big Promotion

If 2023 is anything like 2022, the odds are stacked in your favor if you work in public accounting, according to a recent LinkedIn analysis. Professional services was among the five industries that doled out the most promotions this year: And at the top seven largest public accounting firms in the U.S., that big promotion […]