New AICPA Credential Focuses on IT-Savvy CPAs


T he AICPA is introducing the certified information technology professional (CITP) designation, which recognizes CPAs who can provide skilled advice on using IT to implement business strategy. The Institute will begin accepting applications for CITP certification July 1, 2000.

At its fall meeting, the AICPA governing council approved the designation, which was proposed by the AICPA information technology executive committee. It is expected to help CPAs penetrate a segment of the technology services market that until now has had no specific professional leadership.

The AICPA created the new credential to establish public awareness of the CPA as the preferred information technology (IT) professional, enhance the quality of IT services members provide, increase practice development opportunities and advance the careers of CPAs employed in business and industry, education and other areas.

The AICPA will grant the CITP designation to individuals based on business experience, lifelong learning and, if necessary, an examination. Those not meeting minimum experience and learning requirements will have to pass an IT competency examination, which is expected to be available by September.

Initial accreditation will cover a three-year period; a $500 initiation and materials fee applies. To maintain the designation, CPA/CITPs will have to pay an annual fee of $250 and meet reaccreditation requirements every third year thereafter.

The CITP designation is the first developed under the auspices of the national accreditation commission, a new senior AICPA committee responsible for advancing the accreditation process.

The AICPA will introduce the CITP credential at its Tech 2000 conference in Atlanta, May 10–12, 2000. More information is available on the Web at http://citp.aicpa.org .

SPONSORED REPORT

Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.

QUIZ

News quiz: IRS warning on cyberattacks and a change in pension rules

Once again, the IRS sounds the alarm about a threat from cyberthieves. See how much you know about this and other recent news with this short quiz.

CHECKLIST

Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.