Independent editorial resource. Not affiliated with any employer, certification body, or professional association. Occupational data from the U.S. Bureau of Labor Statistics (2024–25). All certification requirements described here should be verified directly with the issuing body — requirements change.
The CPA is not the only credential worth knowing about in accounting and finance. Depending on your career path, role, and industry, other certifications may be equally or more valuable. Here is an overview of the major ones.
CPA — Certified Public Accountant
Issuing body: State boards of accountancy (exam developed by AICPA/NASBA)
Best for: Public accounting, audit, tax, controllership, general accounting careers
Requirement summary: 150 credit hours of education, passing the four-section Uniform CPA Exam, supervised experience (typically 1–2 years under a CPA), ethics exam in many states
Note: Legally required in the U.S. to sign audit reports, perform attest services, or hold yourself out as a CPA
The CPA is the broadest-based accounting credential in the U.S. and the most widely recognized by employers. For audit, tax, or public accounting careers it is effectively required. For industry accounting it is highly preferred.
CMA — Certified Management Accountant
Issuing body: Institute of Management Accountants (IMA)
Best for: Management accounting, FP&A, corporate finance, cost accounting, controller roles at manufacturing and industrial companies
Requirement summary: Bachelor’s degree, two years of professional experience in management accounting or financial management, passing a two-part exam
Exam structure: Part 1 (Financial Planning, Performance and Analytics) and Part 2 (Strategic Financial Management)
The CMA is the main alternative to the CPA for industry accountants who do not need public accounting licensure. It focuses on planning, analysis, and decision support rather than historical reporting and audit. The IMA publishes salary surveys (member surveys, not BLS data) suggesting CMA holders earn a premium over non-credentialed management accountants — verify current survey methodology with IMA directly.
CFA — Chartered Financial Analyst
Issuing body: CFA Institute
Best for: Investment analysis, portfolio management, equity research, corporate finance, investment banking
Requirement summary: Bachelor’s degree (or be in final year), 4,000 hours of relevant professional experience, passing three sequential exams (Level I, II, III)
Note: Pass rates at each level have historically been 40–50 percent or lower, and the full qualification typically takes four or more years
The CFA is a finance credential, not an accounting credential. It is the standard for investment professionals. Accountants who want to move into investment analysis, private equity, or corporate development sometimes pursue the CFA.
CIA — Certified Internal Auditor
Issuing body: The Institute of Internal Auditors (IIA)
Best for: Internal audit, risk management, compliance, Sarbanes-Oxley work
Requirement summary: Bachelor’s degree, 24 months of internal audit experience (reduced to 12 months with a master’s degree), passing a three-part exam
The CIA is the primary credential for internal auditors. If your career involves internal audit functions rather than external audit or financial reporting, the CIA is typically more relevant than the CPA.
EA — Enrolled Agent
Issuing body: U.S. Internal Revenue Service
Best for: Tax practice, representing clients before the IRS, tax preparation businesses
Requirement summary: Passing a three-part IRS Special Enrollment Examination (SEE) covering individual tax, business tax, and representation/practice/procedures, plus background check; OR 5 years of employment with the IRS in a technical tax capacity
Note: No degree requirement
The EA is the IRS’s own credential and grants unlimited practice rights before the IRS. It is popular among tax professionals who are not CPAs, including those who work at tax prep firms or run their own practices. It requires no college degree, making it accessible to a broader group than the CPA.
Which certification should you pursue?
| Career goal | Recommended credential |
|---|---|
| Public accounting (audit, attest) | CPA (required) |
| Tax practice (public firm or own practice) | CPA or EA |
| Corporate accounting / controllership | CPA (preferred); CMA is also valued |
| FP&A / management accounting | CMA; CPA also useful |
| Internal audit | CIA; CPA also common |
| Investment analysis / equity research | CFA |
| Government/nonprofit accounting | CPA (preferred); CGFM for government specifically |
Frequently asked questions
Is the CMA easier than the CPA?
The two exams test different material and are not directly comparable. The CMA has two parts versus four (now three core plus one discipline) for the CPA, and many candidates find the overall volume of material smaller. However, “easier” depends heavily on your background — someone strong in analysis and finance may find the CMA more natural, while someone with a tax background may find parts of the CPA more familiar.
Can you hold both a CPA and CMA?
Yes. Holding both is possible and some professionals do, particularly those who want to signal competence in both external reporting and management decision support. Whether the marginal benefit justifies the effort depends on your specific career goals.
Do accounting certifications expire?
Credentials require ongoing maintenance. The CPA requires CPE credits for license renewal. The CMA requires CPE and IMA membership. The CFA requires annual attestation and membership. The CIA requires CPE. The EA must renew every three years with the IRS and complete 72 hours of CPE per renewal cycle. Always verify current requirements with the issuing body.