TOP 3 GLOBAL POST QUALIFICATION COURSES FOR CHARTERED ACCOUNTANTS TO STAY IN THE GAME

For Chartered Accountants (CAs) aiming to expand their skills and increase career opportunities, three certifications stand out: CFA (Chartered Financial Analyst) by CFAI, CPA (Certified Public Accountant - US) by AICPA, and CISA (Certified Information Systems Auditor) by ISACA. While ICAI’s CA qualification is comprehensive, these courses offer specialization in finance, global accounting standards, and IT auditing. This article explores each course’s relevance, updated syllabus, duration, mode of examination, and costs, illustrating how each can complement a CA’s expertise in today’s global market.

1. CFA (Chartered Financial Analyst) by CFA Institute (CFAI)

Relevance of CFA Today

The CFA credential remains a gold standard for finance professionals, providing expertise in areas like investment analysis, asset management, and portfolio management. In comparison to ICAI’s CA course, which is oriented toward accounting and auditing, CFA focuses on finance and markets, helping CAs transition into high-demand finance roles like investment banking and equity research.
 

Course Overview and Details

• Syllabus: CFA is divided into three levels. Recent updates now include a practical module at Level II, aimed at enhancing real-world skills in portfolio management and asset valuation. Core topics across levels include Ethics, Financial Reporting and Analysis, Quantitative Methods, Economics, Corporate Finance, Equity Investments, Fixed Income, Derivatives, and Portfolio Management. Level 1 syllabus is very similar to CA Final for most topics in core finance and investment. If you have had some liking towards AFM in your CA Final, then you will like CFA better than any other courses here.
• Course Duration: The entire CFA program typically takes about four years to complete, with each level requiring around 300 hours of study.
• Mode of Examination: Exams are computer-based, with Level I offered four times a year, while Levels II and III are available twice a year.
• Cost: Total costs range between $2,550 and $4,000, with fees varying depending on registration timelines. If you take external classes that will be additional.

Value Addition for CAs
 

The CFA qualification allows CAs to deepen their understanding of finance, covering topics such as equity valuation, risk management, and asset allocation—areas not extensively covered in the CA curriculum. For those aspiring to finance or advisory roles, CFA offers the advanced market knowledge and practical skillsets sought by investment and asset management firms worldwide.

2. CPA (Certified Public Accountant - US) by AICPA
 

Relevance of CPA (US) Today
 

CPA (US) certification is essential for CAs seeking to work with US GAAP or engage with global firms operating in the United States. While ICAI’s CA qualification covers Indian accounting standards, CPA (US) emphasizes US GAAP, federal taxation, and international accounting, making it highly relevant for global compliance and multinational firms.

Updated Course Overview and Details

• Syllabus: The CPA (US) program recently replaced the Business Environment and Concepts (BEC) section with a set of optional disciplines to better reflect specialized career paths. Candidates can now choose from three optional papers in addition to the core sections:
  • Core Sections: Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), and Regulation (REG).
  • Optional Disciplines (choose one): Tax Compliance and Planning, Business Analysis and Reporting, or Information Systems and Control.
• Course Duration: Candidates generally complete the exams in 12 to 18 months.
• Mode of Examination: Exams are computer-based and offered year-round at Prometric centers.
• Cost: Depending on the jurisdiction, the cost ranges from $3,000 to $4,000.

Value Addition for CAs
 

The CPA (US) provides a competitive advantage for CAs working in global roles by focusing on US GAAP and compliance with US regulations. The addition of optional disciplines allows CAs to further specialize, tailoring their qualifications to meet the requirements of roles in tax, business analysis, or IT control. For CAs working with international clients, this credential broadens career prospects and adds flexibility to handle diverse regulatory environments. Considering large growth in global practices, I recommend CPA for those CAs in practice and looking to make growith in global practice. As we say in the industry, earn in Dollars and spend in Rupee is the key to wealth generation in service industry.

3. CISA (Certified Information Systems Auditor) by ISACA
 

Relevance of CISA Today
 

As data privacy and cybersecurity become critical for businesses, IT audit skills are in high demand. The CISA certification offers specialized knowledge in information systems auditing, governance, and data protection, areas not extensively covered in the CA curriculum. While CA focuses on financial and operational audit skills, CISA addresses IT risks, cybersecurity, and compliance, making it indispensable in today’s tech-driven business environment.

Course Overview and Details

• Syllabus: The CISA exam covers five core domains: Information System Auditing Process, Governance and Management of IT, Information Systems Acquisition, Development and Implementation, Information Systems Operations, Business Resilience, and Protection of Information Assets.
• Course Duration: Preparation typically takes three to six months, though it may vary based on prior IT knowledge.
• Mode of Examination: The exam is computer-based and available globally at authorized centers.
• Cost: ISACA members pay around $575, while non-members pay approximately $760.

Value Addition for CAs
 

CISA adds IT auditing, data protection, and information systems expertise to a CA’s skill set, enhancing their audit capabilities and broadening their expertise in cybersecurity. This certification is particularly valuable in sectors requiring data integrity and regulatory compliance, such as banking and finance. For CAs in audit roles, CISA provides the technical knowledge needed to audit IT systems alongside traditional financial audits, positioning them as valuable assets in any organization with stringent data and cybersecurity needs. Even though ICAI has a course named ISA with similar skillsets, CISA gives a global perspective to it and would be one of the fastest and easiest to upgrade in skills of a CA.

Choosing the Right Course for Your Career Goals
 

Each course caters to different aspirations:

1. CFA is suited for CAs focused on investment management, portfolio strategy, or financial research, where understanding of financial markets and valuation techniques is critical.
2. CPA (US) is ideal for CAs engaged with global firms or US-based clients requiring knowledge of US GAAP and federal tax regulations. The addition of optional disciplines also enables CAs to tailor the CPA to align with their career goals in specific domains like tax or IT control.
3. CISA is perfect for CAs interested in IT auditing and cybersecurity. This credential enhances audit skills to include IT compliance and security, making it indispensable in sectors with high data security requirements.

Pursuing CFA, CPA (US), or CISA after obtaining a CA designation allows professionals to specialize in finance, global accounting, or IT audit, providing skills that enhance their employability and career flexibility. Each course complements the foundational knowledge provided by ICAI’s CA qualification, allowing CAs to tackle the evolving demands of modern business and emerge as versatile professionals ready for a global market.

Choosing the right course ultimately depends on your career aspirations. For finance roles, CFA provides essential market knowledge; for international accounting, CPA (US) enhances global credentials; and for cybersecurity and IT audit, CISA positions you as a key resource in the digital age.

Keep following @Taxschool and @calijillakshman for more such updates.