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How highly regarded is the Certified Internal Auditor designation by the IIA in the States and elsewhere?

I am now a CA (Chartered Accountant, equivalent to the CPA in US) in Australia and I work in the industry. I am wondering whether the CIA designation is worthwhile or a Certified Management Accountant designation by the Institute of Certified Management Accountants is a better option for me to further my career.

Public Comments

1. Either one is very good. The accounting profession is respected in the US. You should get the designation that fits better with the job you plan to take. If you plan to work in internal auditing, than the CIA would be better. Otherwise, CMA carries as much respect as the CPA in my opinion.
2. Just a few years back there were a great demand for internal auditors in the US thanks to the implementation of Section 404 of the Sarbanes-Oxley Act of 2002. This demand is kind of ebbed with Sarbox being implemented by most public entities and the corporate focus being moved elsewhere. Having said that, there is still a good job possibility. Also FYI, a CPA in the US is not the same as a CA in Australia or for that matter in the British Commonwealth. The CA is both a professional qualification and provides a license to practise while the CPA is primarily a license to practise...the CPA exams tend to be quite simple as compared to CA exams...also unlike many other countries US accounting firms employ auditors with no CPA degree or license.