The AICPA on Monday unveiled revisions to the Certified Information Technology Professional (CITP) credential that will reward accountants for real-world experience, life-long learning and, optionally, similar credentials from other organizations. The announcement came at the AICPA Tech+ Conference in Las Vegas.
Because CPAs have taken on more responsibility in the areas of data security and reliability, the AICPA has updated the credential’s body of knowledge to emphasize IT expertise related to audit and attest services and financial data components, analysis and reporting.
For the first year, there will be no exam as the Institute designs one for the credential along with the appropriate education to prepare for it, according to Steve Winters, AICPA director of specialized communities and practice management. In the meantime, the following requirements will qualify accountants for the credential:
- A valid, unrevoked CPA license
- Five years of experience in the field of accounting
- Minimum of 1,000 hours experience in areas pertaining to the CITP body of knowledge. Minimum of 75 hours of education in areas pertaining to the CITP body of knowledge
Previous requirements and processes related to the CITP credential were fairly complex and did not align with the updated body of knowledge, Winters added.
About a year ago, the AICPA launched its Certified in Financial Forensics (CFF) credential, which did not require an exam and instead is based on professional experience and life-long learning. There are now roughly 3,200 CFF credential holders. “We thought that was a successful model to follow,” Winters said.
The CITP credential, launched in 2000, recognizes accounting professionals who combine IT expertise with the unique skill set of CPAs, including integrity and objectivity, said Jim Bourke, CITP Credential Committee chairman. About 1,460 people hold the credential.
Qualification for the new CITP credential is based on a 100-point system. Accountants already holding certain related credentials offered by other organizations can receive 35 points for one of those designations.
ISACA’s Certified in the Governance of Enterprise IT (CGEIT)
ISACA’s Certified Information Security Manager (CISM)
ISACA’s Certified Information Systems Auditor (CISA)
Project Management Professional (PMP)
Certified Information Systems Security Professional (CISSP)
Certified Management Accountant (CMA)
Certified in Financial Forensics (CFF)
Certified Internal Auditor (CIA)
CITP credential holders must pay an annual fee of $350 and meet CITP recertification requirements (subject to change) every three years.