Tech Certified IT Credentials for CPAs.

• Author: Jadhav, Harsh
• Position: Tech Talk

As companies implement new technology solutions, automate business processes and contemplate the appropriate risk management strategy, CPAs can be the right professionals to help bridge the gap between business requirements and possible technology solutions.

As CPAs, our touchpoints with technology usually are as a user, where we become adept at using a suite of Microsoft products, our tax software and other audit and accounting applications. The challenge is that our clients and own organizations are exploring and using new technology (i.e., cloud computing, mobile apps, Blockchain) and completely changing their risk profile and operating model--yet trusting CPAs still will be able to advise them appropriately.

Early in my career, I had the opportunity to serve as the functional lead when my company implemented the SAP Fixed Asset Module. My role involved capturing the unique U.S. GAAP, U.S. tax and foreign reporting requirements and translating those accounting specifications for the development team to configure into SAP. Although our development team was business savvy, I found it challenging to guide them on certain concepts like assets under construction and impaired assets without fully understanding the functionality in SAP. To add real value, I felt the need to be technical enough to discuss different SAP configuration options with the development team and to opine on whether the development recommendations made to management were appropriate.

There wasn't an expectation then that CPAs have strong IT skills. Today, CPAs who lack a fundamental understanding of major tech trends and how they affect their client's business could eventually face extinction.

Ylad Genin, former program chair for the University of Phoenix School of Business, says, "Rapid development of information technology fundamentally changes a CPAs job. As routine processes are automated, security concerns arise and the need for business intelligence increases, CPAs will serve as the business architects and be asked to take on advisory roles based on deeper investigations of business cases and problems."

Credentialing Credential/Certification Organization Certified Information Technology AICPA Professional (CITP) Certified Information System ISACA Auditor (CISA) Cybersecurity Advisory Service AICPA Certificate (CYASC) Certified information Systems ISACA Manager (CISM) Certified IDEA Data Analyst (CIDA) CaseWare Analytics Certified Information Systems [(ISC).sup.2]...