Top 10 Assistant Controller Certifications

Certifications for an assistant controller are important because they provide a way to demonstrate knowledge and experience in the field. They can help an assistant controller stand out from other applicants and give them an edge in the job market. Certifications also show that the assistant controller has taken the initiative to learn more about their profession and stay up-to-date on industry standards, which is always attractive to employers. Finally, certifications can provide access to a network of professionals who can provide valuable advice on career advancement.

This article reviews some of the best certifications for Assistant Controllers and explains how they can help to advance an assistant controller's career.

What are Assistant Controller Certifications?

Assistant Controller Certification is a professional credential offered by the Institute of Certified Management Accountants (ICMA). It is designed to recognize individuals who have demonstrated knowledge and experience in accounting, finance, financial analysis, and management. The certification provides evidence that an individual has achieved a level of competency in the areas of accounting and financial management.

The certification helps to demonstrate an individual’s commitment to their profession and provides employers with assurance that they are hiring qualified candidates who have the necessary skills to successfully manage their organization’s finances. It also serves as a useful tool for career advancement as it demonstrates to potential employers that the individual has acquired valuable knowledge and experience in accounting and finance. By holding this certification, individuals may be able to command higher salaries, gain promotions, or access more job opportunities. Additionally, having this certification can help individuals build relationships within the professional network and open up doors to new career opportunities.

Pro Tip: Before applying for assistant controller certification, make sure you have a thorough understanding of the accounting principles, financial reporting standards and other related topics. Additionally, review any relevant laws and regulations that apply to the position. This will help ensure you are well-prepared to pass the certification exam.

Related: What does an Assistant Controller do?

Top 10 Assistant Controller Certifications

Here’s our list of the best certifications available to Assistant Controllers today.

1. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation that indicates a person has met the education, experience, and examination requirements of the state in which they practice. In order to become a CPA, individuals must meet certain educational and work experience requirements, pass an exam, and obtain licensure from their state board of accountancy.

The amount of time it takes to become a CPA can vary depending on the individual’s prior education and work experience. Generally speaking, it takes at least four years to complete the necessary coursework and gain enough work experience to qualify for the exam.

In order to become a CPA, individuals must first meet the educational requirements set by their state board of accountancy. This typically includes completing 150 semester hours of college-level coursework with an emphasis on accounting or related subjects such as finance or business law. After completing this requirement, individuals must then gain at least one year of professional accounting experience before they can sit for the CPA exam.

The cost of becoming a CPA varies depending on factors such as the individual’s prior education and work experience, as well as the specific state in which they are seeking licensure. Generally speaking, applicants should expect to pay fees for registration for both parts of the exam (which can range from $50-$200), fees for study materials (which can range from $100-$500), and licensing fees (which can range from $50-$200). Additionally, some states may require additional fees for background checks or other administrative costs.

2. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification awarded by the Institute of Management Accountants (IMA). It is designed to recognize professionals who have mastered the financial planning, analysis, control, decision support, and professional ethics skills required in today's dynamic business environment.

The CMA program consists of two parts: Part 1 - Financial Planning, Performance and Control; and Part 2 - Strategic Financial Management. Each part requires at least 300 hours of study time and passing an exam. To become certified, you must also meet the IMA's educational requirements and have two years of professional experience in management accounting or related field.

The cost for taking the CMA exam varies depending on your location. In the United States, it typically costs around $1,000 for both parts combined. The cost includes registration fees, exam fees, study materials and other associated costs.

It usually takes about six months to one year to complete the CMA program and pass both exams. However, this timeframe may vary depending on how much time you are able to dedicate to studying each week.

3. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is the most widely recognized and respected credential for internal auditors. The CIA designation is awarded to individuals who have demonstrated knowledge, experience, and proficiency in the practice of internal auditing.

To become a Certified Internal Auditor, an individual must meet certain qualifications and pass a rigorous three-part exam administered by the IIA. The exam consists of three parts: Part 1 – Essentials of Internal Auditing; Part 2 – Practice of Internal Auditing; and Part 3 – Business Knowledge for Internal Auditing. Each part must be passed within 18 months of starting the program in order to obtain certification.

In order to qualify for the CIA exam, an individual must have at least two years of professional experience in internal auditing or related fields such as accounting, finance, IT audit, or management consulting. Additionally, applicants must complete a minimum number of hours of continuing professional education (CPE) credits each year to maintain their certification status.

The cost to take all three parts of the CIA exam varies depending on where you take it and your country/region's currency exchange rate. Generally speaking, it costs around $1,000 USD to take all three parts of the exam.

4. Certified Government Financial Manager (CGFM)

Certified Government Financial Manager (CGFM) is a professional certification program designed to recognize individuals who possess the knowledge and skills necessary to manage government finances. It is offered by the Association of Government Accountants (AGA).

The CGFM certification program consists of three exams that must be passed in order to become certified. The first exam covers government environment, financial management, and internal control systems. The second exam covers accounting and financial reporting and the third exam covers auditing, financial management analysis, and budgeting.

In order to be eligible for the CGFM certification program, applicants must have at least two years of professional-level experience in government finance or a related field. Applicants must also complete at least 80 hours of continuing professional education (CPE) credits every two years in order to maintain their certification status.

It typically takes between 6 months and 1 year to complete all three exams and become certified as a CGFM. The cost of the CGFM certification program varies depending on whether you are an AGA member or non-member. For AGA members, it costs $495 for all three exams; for non-members, it costs $595 for all three exams.

5. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a designation that recognizes the expertise of management accountants and financial professionals in business. It was developed by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA).

The CGMA designation is designed to give management accountants and financial professionals the recognition they deserve for their knowledge and experience in strategic decision-making, risk management, finance, operations, technology, analytics, and governance.

It takes approximately 3-4 months to get the CGMA designation. To get it, you must first pass an exam administered by AICPA or CIMA. The exam covers topics such as financial reporting and analysis; corporate finance; risk management; strategy; performance management; business law; taxation; auditing; information technology; data analytics; and ethics. After passing the exam, you must then complete a one-year professional development program which includes attending seminars, workshops and webinars.

The cost of getting the CGMA designation varies depending on your location but generally ranges from $1,000-$2,000 USD. This cost includes registration fees for both the exam and professional development program as well as other materials needed to complete them.

6. Certified Fraud Examiner (CFE)

Certified Fraud Examiner (CFE) is a professional certification offered by the Association of Certified Fraud Examiners (ACFE). It is designed to give professionals the knowledge and skills they need to detect, investigate, and prevent fraud. The CFE credential demonstrates an individual’s expertise in fraud prevention, detection, and deterrence.

It typically takes between 6 months and 1 year to earn the CFE credential. To become certified, individuals must complete a comprehensive course of study that covers four major areas: financial transactions and fraud schemes, law, investigation, and criminology. After completing the coursework, applicants must pass a four-hour exam administered by the ACFE.

The cost of obtaining the CFE credential varies depending on whether you are an ACFE member or non-member. For members, it costs $400 for the online self-study course plus $100 for each exam attempt; for non-members it costs $495 for the online self-study course plus $200 for each exam attempt.

7. Certified Information Systems Auditor (CISA)

Certified Information Systems Auditor (CISA) is an internationally recognized certification for information systems auditors, which is administered by the Information Systems Audit and Control Association (ISACA). It certifies individuals who have demonstrated a comprehensive understanding of IT auditing principles and practices.

In order to obtain the CISA certification, applicants must have a minimum of five years of professional experience in IS/IT audit, control or security work. This experience must be obtained within the last 10 years prior to submitting an application. Those without the required experience may still qualify if they have a four-year college degree or equivalent.

The CISA exam consists of 200 multiple-choice questions that cover topics such as IT governance, risk management and compliance, IT service delivery and support, protection of information assets, and business continuity and disaster recovery planning. The exam takes approximately four hours to complete.

The cost for taking the CISA exam varies depending on where you take it. In the United States, it costs $575 for ISACA members ($760 for non-members). In other countries, fees may vary. Additionally, there is an annual maintenance fee of $45 for ISACA members ($85 for non-members).

8. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation offered by the CFA Institute to financial professionals who have met certain educational, work experience and ethical requirements. The CFA program is designed to provide investment professionals with a comprehensive understanding of the global investment industry, including portfolio management, asset valuation, and professional ethics.

The CFA program consists of three levels of exams that must be completed in order to become a CFA charterholder. Each level requires approximately 300 hours of study time and generally takes at least two years to complete all three levels. Candidates must pass each exam before they can move on to the next level.

To become a CFA charterholder, candidates must meet the following eligibility requirements:

• Have four years of qualifying work experience
• Pass all three levels of the CFA Program exams
• Agree to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct
• Become a member in good standing with the CFA Institute
• Pay annual membership dues
• Submit an acceptable professional conduct statement
• Maintain their membership in good standing with the CFA Institute.

The cost for registering for each level of the exam varies depending on when you register and which country you are taking it in. Generally speaking, it costs around $1,000 USD per level plus any applicable taxes or fees.

9. Accredited Business Valuator (ABV)

Accredited Business Valuator (ABV) is a professional designation awarded by the American Society of Appraisers (ASA). The ABV credential is designed for individuals who have demonstrated proficiency in business valuation and related services. To earn this designation, an individual must have a minimum of five years of experience in the business valuation field, pass a comprehensive exam, and complete an approved course in business valuation.

It typically takes between 6-12 months to obtain the ABV credential depending on the individual's work experience and educational background. In order to get started on the path to becoming an ABV, individuals must become members of the ASA and submit an application for certification. After submitting their application, they will be required to take a two-day exam that covers topics such as financial statement analysis, business valuation methods, and legal issues related to appraisals.

The cost of obtaining the ABV credential varies depending on the individual's membership status with ASA. For non-members, it can range from $1,500-$2,000 USD; however, members may receive discounts or special offers that reduce this cost significantly. Additionally, some employers may cover all or part of the cost associated with obtaining this credential.

10. Certified Treasury Professional (CTP)

The Certified Treasury Professional (CTP) is a professional certification offered by the Association for Financial Professionals (AFP). It is designed to recognize individuals who possess a comprehensive knowledge of treasury management and demonstrate the highest level of expertise in their field. The CTP certification is widely recognized as the premier credential in corporate treasury, and is held by more than 10,000 financial professionals worldwide.

To become a CTP, applicants must meet certain eligibility requirements and pass a rigorous exam. To be eligible for the CTP exam, applicants must have at least three years of experience in corporate treasury or related fields. They must also have either an undergraduate degree or equivalent work experience.

The CTP exam consists of 150 multiple-choice questions that cover topics such as cash management, foreign exchange, investments, risk management, debt management, and accounting principles. The exam takes four hours to complete and costs $595 for AFP members and $795 for non-members. Upon successful completion of the exam, candidates are awarded the CTP designation and receive a certificate from AFP.

Do You Really Need a Assistant Controller Certificate?

No, you do not need an assistant controller certificate to become an assistant controller. However, having a certificate can help you stand out from other applicants and prove your knowledge and commitment to the field. It may also give you a competitive edge when applying for positions or promotions.

Having a certificate demonstrates that you have taken the time to study and understand the principles of accounting and finance related to the role of an assistant controller. This knowledge can give employers confidence that you are capable of understanding their financials and helping them make informed decisions. Additionally, it will help you show potential employers that you are committed to learning more about the profession and staying up-to-date with industry trends.

In conclusion, while an assistant controller certificate is not necessary, it can certainly be beneficial when applying for positions or promotions in this field. It shows potential employers that you are knowledgeable in accounting principles and finance related topics, as well as being committed to learning more about the profession.

Related: Assistant Controller Resume Examples

FAQs About Assistant Controller Certifications

1. What is an Assistant Controller Certification?

Answer: An Assistant Controller Certification is a professional credential that recognizes the knowledge and skills of an individual who works as an assistant controller in the financial services industry.

2. What are the benefits of obtaining an Assistant Controller Certification?

Answer: Benefits of obtaining an Assistant Controller Certification include increasing your earning potential, gaining recognition in the financial services industry, and demonstrating your commitment to professional growth.

3. How do I become certified as an Assistant Controller?

Answer: To become certified as an Assistant Controller, you must meet the eligibility requirements set by the certifying organization and pass their certification exam.

4. How long does it take to become certified as an Assistant Controller?

Answer: The amount of time it takes to become certified as an Assistant Controller depends on the certifying organization's requirements and how quickly you can complete their coursework and/or examination process.

5. Is there any continuing education required for maintaining my certification?

Answer: Most certifying organizations require that you complete continuing education courses or activities in order to maintain your certification status.