IT Assurance A fantastic career choice! Presented by the PICPA’s IT Assurance Committee
Dec 14, 2015
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.
#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?
Why IT Assurance?
#4 It Pays*
51,750
83,250
44,500 69,7500
15,00030,00045,00060,00075,00090,000
Junior Senior
Starting Salaries
IT Audit
Audit
* (per Robert Half 2011 Salary Guide)
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 CredentialWhile 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 Management2. Fraud Considerations3. Internal Control and IT General
Controls4. 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.orgAICPA’s CITP Holder’s Group – LinkedIn