IT Assurance - Pennsylvania Institute of Certified Public Accountants

Report
IT Assurance
A fantastic career choice!
Presented by the
PICPA’s IT Assurance Committee
What is “IT Assurance”?
A specialized branch of auditing that combines the
CPA’s audit skills and understanding of IT systems to
provide audit and consulting services.
Why IT Assurance?
Why IT Assurance?
#1 A growth opportunity!
Businesses are just beginning to realize
the potential of technology to:
• manage and transform operations
• improve and streamline financial
reporting processes
• reduce risks affecting financial
and non financial data
• improve the quality of data used
by management to make
decisions
Why IT Assurance?
Diverse need:
• Public Accounting
• Government
• Industry
 Manufacturing
 Software Development
 Retail
Why IT Assurance?
#2 Stay ahead of the curve!
In the future, auditors will be
required to possess a solid
understanding of IT assurance.
Take the opportunity now to
become IT assurance experts and
be on the cutting edge of the
future of the profession.
Why IT Assurance?
#3 Demonstrates your value…
sets you apart from:
• Non IT CPAs
• Non CPA IT Professionals
Why IT Assurance?
#4 It Pays*
Starting Salaries
90,000
75,000
60,000
45,000
30,000
15,000
0
83,250
IT Audit
51,750
Audit
44,500
Junior
* (per Robert Half 2011 Salary Guide)
69,750
Senior
IT Assurance Professionals
• Address the technology related aspects of a
financial statement audit
• Perform different types of assurance services
• Provide consultation services with respect to
information management and business
process improvement
IT Assurance Project Examples
• Internal control consulting and auditing
• Audit IT systems controls over confidentiality, data
integrity, and system availability
• Information security consulting and auditing (firewalls,
backups, storage, etc.)
• IT Governance Consulting
• Fraud and Litigation Services
IT Assurance Professionals
• Are CPAs
• Demonstrate solid
understanding of IT
systems and controls
• Hold additional
credential(s)
What is a CITP?
(Certified Information Technology Professional)
• Serves as the "bridge" between business and
technology leveraging the CPA's strategic and general
business skills
• Focuses on information assurance and management
services, making a CPA among the most trusted
business advisor
The CITP Credential
While there are a number of credentials for IT professionals, only one
requires that the professional is a CPA… the CITP.
All CITP professionals should have an understanding of the knowledge and
skills relating to the 5 areas in the CITP’s Body of Knowledge:
1. Risk Management
2. Fraud Considerations
3. Internal Control and IT General
Controls
4. Evaluate, Test, and Report (Attest
Functions)
5. Information Management and
Business Intelligence
CITP Body of Knowledge
• Risk assessment
– Initial evaluation of risks that may impact the possibility of a material
misstatement or the vulnerability of an organization’s assets with
initial assumptions, research, and uncertainties
• Fraud consideration
– Consideration of the risks of material misstatement due to fraud and
determining unique IT procedures to detect fraud
CITP Body of Knowledge
• Internal Control and IT General Controls
– Provide reasonable assurance regarding the reliability of the financial
statements
– Understand the design and implementation of systems used to secure
financial information
• Evaluate, Test and Report
– Design and execute auditing techniques that will asses control
processes in order to provide assurance on the auditability of
information
CITP Body of Knowledge
• Information Management and
Business Intelligence
– Ensure that the information
provides value for meeting goals,
objectives, and decision making
Benefits of becoming a CITP
• Enhances the practitioner's image as a competent,
trustworthy financial expert
• Promotes a greater level of confidence for clients and
employers
• Demonstrates commitment to continuously improving IT
accounting skills and expertise, resulting in increased
professional competency
• Distinguishes your practice with the powerful combination
of a CPA certificate and a CITP credential
CITP Requirements
• Maintain an AICPA membership in good standing
• Have at least five years of experience in practicing accounting
• Minimum requirements in relevant experience and education
– Minimum of 1,000 hours of business experience in information
assurance and management services
– 75 hours of financial information assurance and
management accounting related continuing professional education
• Hold a valid and unrevoked CPA certificate or license issued by
a legally constituted state authority
• Pass the CITP examination
Why IT Assurance?
#5 A great way to begin your career!
Set yourself apart
from the rest of your
graduating class
• Questions / Comments
• Additional information
www.aicpa.org
AICPA’s CITP Holder’s Group – LinkedIn

similar documents