FINANCE/ACCOUNTING CAREERS

The Importance of Maintaining Certifications

Financial professionals today must contend with a number of changes affecting their work, including corporate governance reforms, an increasingly globalized business world and new technologies, to name a few. But if there’s one constant in the ever-evolving world of accounting and finance, it’s this: The need for professional certifications. Indeed, the current business environment has heightened the demand for financial professionals who possess industry-recognized accreditations.

Those who have earned such certifications – certified public accountant (CPA) or certified information systems auditor (CISA), for example – demonstrate to potential employers both their expertise and commitment to ongoing education. In a Robert Half survey, 85 percent of chief financial officers (CFOs) polled said earning a certification is valuable for an accounting or finance professional’s career advancement. Following are some ways in which certifications can bolster your career prospects, as well as a discussion of those accreditations that are most desirable today.

Advantage in hiring. Not only can certifications help individuals differentiate themselves in the marketplace, but they also serve as an indicator to employers that a potential hire has the requisite skills to perform a specific job or service. A hiring manager knows a candidate with a relevant designation possesses, at the very least, knowledge of a particular set of concepts or technologies. A certification also demonstrates initiative on the part of an applicant because he or she put in the extra effort to obtain it.

More job satisfaction. One overlooked aspect of earning an accreditation is that the process can be an opportunity to learn new skills or strengthen existing abilities, which often leads to satisfaction and growth – and ultimately, a more rewarding career path. But you do need to determine which certification or certifications are best for you.

While professional associations continue to create specialty certifications to help their members address increasingly complex regulations and business trends, certain credentials have become particularly desirable in the accounting and finance fields, including: certified public accountant (CPA), certified general accountant (CGA), certified internal auditor (CIA), certified fraud examiner (CFE), certified information systems auditor (CISA), and certified management accountant (CMA). The chartered accountant (CA) is an international designation that is similar in scope and stature to the CPA credential, prominent in Canada, Australia, England, Ireland, Scotland, South Africa, New Zealand and Wales.

Talk to your manager about what designation might be valuable to you and the company. Many firms are willing to cover your professional development costs if a certification will help you on the job. You might also speak with your peers about certifications they found most valuable. Message boards and industry events can help you target the best choice for you as well.

Of course, pursuing a professional designation should ultimately come down to your own goals, interests and assets, as well as your perceptions of the current market.

No substitute for experience. While a certification can indicate knowledge in a given area, it doesn’t necessarily demonstrate ability to apply that knowledge in the workplace. Employers are also interested first in job seekers who possess a track record of bottom-line contributions. In the coming years, organizations will likely place even more value on certifications, particularly when there are two candidates for a job, one of whom does not possess a designation. They’ll look to those who can demonstrate their knowledge in niche areas through a combination of work experience and the formal training and education gained during the certification process.

Founded in 1948, Robert Half Finance & Accounting, a division of Robert Half International Inc., is first and largest specialized financial recruiting service. The company has more than 360 offices worldwide. Search for jobs now or learn more at www.roberthalf.com.