Questions about experience requirements

  • Creator
    Topic
  • #163975
    Anonymous
    Inactive

    Hi All,

    I am currently pursuing my CPA and had a question about the work requirements.

    I have a year of general bookkeeping experience from a restuaruant while I was in school.

    Additionally, I interned in the AR department of my current company for 7 months and now work in the AP/GL department (7 months). The work entails a lot of analytical stuff and includes internal audits, etc.

    I have been told that this experience is not public, therefore not applicable to the work requiremnets. THis can’t be true, can it?

Viewing 1 replies (of 1 total)
  • Author
    Replies
  • #312984
    Anonymous
    Inactive

    Here are the experience requirements and none of them explicetely say anything about public experience.

    Competency 1 – Understand the Profession’s Code of Conduct

    1.1 Understand the laws and regulations governing CPAs.

    1.2 Demonstrate the ability to work with integrity, objectivity, professional skepticism, and due professional care.

    1.3 Make appropriate judgments to undertake only those tasks that can reasonably be expected to be completed with

    professional competence and seek advice and supervision when confronted with challenges beyond your immediate expertise.

    1.4 Understand the need for independence in providing attest services.

    Competency 2 – Assess the Achievement of an Entity’s Objectives

    2.1 Plan an engagement or work program.

    2.2 An understanding of an entity’s* business (organization, objectives, goals, and operating characteristics) and matters

    affecting the entity's industry (economic conditions, government regulations, changes in technology, or other critical factors)

    is obtained and considered in determining the scope of the work program or services to be performed.

    2.3 Design and effectively perform analytical procedures.

    2.4 Identify conditions that may require the extension or modification of a work program or professional services.

    2.5 Evaluate the reasonableness of estimates and representations by others such as management.

    Competency 3 – Develop Documentation and Sufficient Data to Support Analysis and Conclusions

    3.1 Sufficient, relevant data is obtained, analyzed and documented to provide a reasonable basis for the

    conclusion(s) expressed in a report or other document.

    Competency 4 – Understand Transaction Streams & Information Systems

    4.1 Obtain and document an understanding of an entity's* internal controls, transaction streams and information systems.

    4.2 Make appropriate decisions about the nature, timing, and extent of procedures that support an analysis or conclusion.

    Competency 5 – Assess Risk and Designing Appropriate Procedures

    5.1 Assess the risk of misstatement of the underlying data.

    5.2 Identify and assess factors that may indicate the presence of fraud.

    5.3 Evaluate or design policies or procedures to reduce the risk that financial information would be misstated. Or participate

    in designing tests or procedures to obtain a reasonable level of assurance, that financial statements properly present the

    following management assertions: completeness, existence and occurrence, rights and obligations, valuation and

    allocation, and presentation and disclosure.

    Competency 6 – Make Decisions, Solving Problems, and Thinking Critically in the Context of Analysis

    6.1 Assess the appropriateness of conclusions based on sufficient, relevant data.

    6.2 Evaluate the appropriateness of financial information, disclosures, or transactions in accordance with the appropriate

    basis of accounting, or applicable rules and regulations.

    Competency 7 – Communicate Scope of Work, Findings and Conclusions Effectively

    7.1 Comply with appropriate reporting standards for professional services undertaken or draft appropriate communications

Viewing 1 replies (of 1 total)
  • The topic ‘Questions about experience requirements’ is closed to new replies.