AICPA contracts NACVA to develop course for CPA forensic credential exam
by AccountingWEB on
The American Institute of Certified Public Accountants has engaged the National Association of Certified Valuation Analysts to develop a course to help CPAs prepare for the qualifying exam for the Certified in Financial Forensics (CFF) credential.
“Approximately 4,300 CPAs have qualified for the CFF credential since the AICPA began offering it in 2008,” said James Metzler, AICPA vice president, small firm interests. “As more CPAs seek the CFF credential and forensic accounting continues to grow as a practice discipline, the AICPA is committed to ensuring that its members are the most prepared and well-trained professionals in the forensic accounting field. The new exam is a key element of our commitment.”
NACVA will deliver a five-day course covering the eight areas of the CFF credential’s body of knowledge: computer forensic analysis; family law; valuation; calculation of economic damages; financial statement misrepresentation; bankruptcy; insolvency and reorganization; and fraud prevention, detection, and response. NACVA intends to launch the course in late 2010 following the first CFF exam. It will be offered on site at locations yet to be selected.
“The forensic accounting discipline relies significantly on the expertise and skills of the CPA,” said Parnell Black, CEO of NACVA. “We are honored to have been selected by the AICPA to offer training to its members who are preparing to sit for the exam as a step toward acquiring the CFF credential.”
The course will be designed to prepare CPA practitioners in financial forensics for the four-hour computerized CFF exam, which will be mandatory to obtain the credential beginning September 1, 2010. The 2010 exam is scheduled for September 29-October 29, 2010. Information may be found at www.aicpa.org/cffexam.
The AICPA launched the CFF credential in 2008 after research among users of forensic accounting services. The institute surveyed 150 law firms, which are the primary clients of forensic accountants. Three quarters of the respondents said they expected a forensic accounting expert to have a specialized credential. More than half said they preferred a CPA and would value the blend of a CPA license and an AICPA credential.
The AICPA’s research found that CPAs represented 94 percent of forensic experts hired over the previous two years.
According to Metzler, the institute always intended to offer an exam. The AICPA’s original plan was to begin administering the exam after reaching the initial target of 3,500 credential holders, which was projected to take three years. Because it met the target in less than two years, the AICPA accelerated the launch date.
The AICPA estimates that 20,000 to 30,000 CPAs currently provide forensic accounting services. “Our objective is to provide this increasingly important segment of the accounting profession with a comprehensive path to acquire the CFF credential,” Metzler said.
You may like these other stories...
Cybersecurity is no longer the domain of an organization's IT staff. It's moved to the boardroom, and in a big way. Accountants and financial managers may have been thinking it's just the province of the tech...
Boehner addresses GOP priorities ahead of midterm electionsHouse Speaker John Boehner (R-OH) on Thursday delivered what amounted to closing arguments ahead of the November elections, laying out a list of Republican...
Former DOJ Tax Division head Kathryn Keneally joining DLA Piper in New YorkGlobal law firm DLA Piper announced on Thursday that Kathryn Keneally, the former head of the US Justice Department Tax Division, is joining the firm...
Upcoming CPE Webinars
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience's communication style.
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.