As recruiting continues this week, we’ll put out the idea of opting to starting your career with a firm or company as opposed to starting at a Big 4 firm. Regardless of the Big 4’s dominance of the BW list, there are several smaller firms that make good offers and all businesses need number crunchers to track all the bloody money.
And this year, since many of the Big 4 don’t appear to be making as many offers, going with a national or regional firm or private company becomes a serious option for many recruits.
For the recruits out there, are you giving serious consideration to taking a position with a non-Big 4 firm? For the rest of you, is starting your career at a Big 4 the only way to go or can relative happiness and success be found elsewhere?
Discuss in the comments.
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Credentials for Accountants: Certified in Financial Forensics
- Adrienne Gonzalez
- June 29, 2010
If you’re the type that enjoyed spy shows as a kid and loves scoping out financial statements like CSIs love autopsying dead bodies, you might want to consider a CFF (Certified in Financial Forensics) when you grow up. Anyone considering this designation may want to add CFF to the end of their name with a CFE or CFA. If you’re looking at a CFF, you might want to hurry up and decide before future CFFs are required by the AICPA, starting September 1st, to pass the CFF examination.
In May of 2008, the AICPA introduced the CFF as a professional credential that combines specialized forensic accounting expertise with the core knowledge and skills that make CPAs among the most trusted business advisers.
Education Requirements
Becau ential that represents an extensive knowledge base, CPE is an important component to qualify for and renew a CFF designation. New CFFs are required to demonstrate a certain amount of Lifelong Learning (based on the point system below) and must complete 60 hours every 3 years with renewal of the credential.
Professional Requirements
In order to qualify to become a CFF, CPAs must be an AICPA member in good standing, have five years professional experience in the field of accounting and must score at least 100 points on the application (points based on professional experience, knowledge, lifelong learning and forensic accounting credentials already held). Only CPAs can apply as a valid, unrevoked license to practice public accounting is a requirement as well.
The CFF Exam
The exam, which will be introduced as a requirement on September 1, 2010, is a four hour, 100% multiple choice exam administered by the AICPA. It consists of the following areas and weights (check out the CSOs from the AICPA here)
Professional Responsibilities and Practice Management
• AICPA 5%
• CPA Professional Responsibilities in Civil and Criminal Matters 5%
Fundamental Forensic Knowledge
• Laws, Courts and Dispute Resolution 5%
• Planning and Preparation 5%-10%
• Information Gathering and Preserving 10%
• Discovery 5%-10%
• Reporting, Experts and Testimony 5%-10%
Specialized Forensic Knowledge
• Bankruptcy, Insolvency and Reorganization 5%-10%
• Computer Forensic Analysis 5%-10%
• Economic Damages Calculations 5%-10%
• Family Law 5%-10%
• Financial Statement Misrepresentations 5%-10%
• Fraud Prevention, Detection and Response 5%-10%
• Valuation 5%-10%
Career Options
Many with the CFF credential stick to private practice and use the CFF as a way to distinguish themselves as passionate about forensic accounting.
Compensation and Other Benefits
We all know more letters = more money but in the case of the CFF, little real data can be found on the difference in compensation for CFFs versus plain old forensic accountants. We’re guessing this is because the CFF is a relatively new AICPA credential but as time goes on and frauds get larger and more complicated, we trust that this data will be much easier to come by. As a general rule, crendentialed CPAs are more valuable simply because pursuit of a credential in one’s specialty shows a level of professional dedication adored by HR departments and managers alike.
Adrienne Gonzalez is the founder of Jr. Deputy Accountant, a former CPA wrangler and a Going Concern contributor. You can see more of her posts here
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Dropping That Ampersand Appears to Have Hurt Plante Moran Standing in Latest Meaningless Best Companies to Work for Ranking
- Caleb Newquist
- January 19, 2012
Because some people still care, here are the accounting firms that made the 2012 Fortune's […]
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Opinion: It’s the AICPA’s Own Fault No One Wants to Be a CPA Anymore
- Adrienne Gonzalez
- September 23, 2021
[Ed. note: we received the following in response to my newsletter column dated September 14, […]