US CPA Exams in India - The world is turning into a global village and graduates and professionals are attracted towards international markets which are offering lucrative jobs. Global mobility is what everyone looks for as it gives the opportunity to settle and work abroad, broaden one’s professional expertise, and gain new perspectives without putting career progression on hold.
US CPAs hold a prominent place in the field of financial services, consulting, audit, taxation and many more roles. American companies who have their offices worldwide require US CPA. In order to cater that need a plethora of professionals opt to become a US CPA since accounting is a field of interesting work that gain a high level of respect, flexibility, and mesmerizing financial rewards.
The US CPA credential enforces high professional standards in the field of accounting. For potential employers, it offers high ethical standards combined with quantifiable education, experience and skills.
CPAs often works for BIG consulting firms globally. BIG4 are the four largest professional accounting firms, which offer assurance, accounting, taxation, risk management and other consulting services, to diverse their clientage across the globe.
These big consulting firms includes, Ernst and Young (EY) Deloitte, KPMG, Price Waterhouse Coopers (PwC), BDO and Mazars. The scope for CPAs in India and abroad is high and increasing and therefore companies are recruiting CPAs sizably nowadays.
US CPA (Certified Public Accountant) is a designation given by AICPA to the individuals who have passed all the four parts of the Uniform CPA exam successfully, additionally for acquiring the license to have his/her own practice, have relevant educational credentials weighing of 150 credits and 12 months of work experience followed by a ethic exam (variations from state to state).
CPA Prospects and Career Purview Globally
- Public Accounting-US CPAs provide services for public accounting firms which encompassing accounting, auditing, tax, and consulting services for clients. The certifications make an individual expert in PCAOB and AICPA auditing standards, US GAAP & IFRS, SEC Rules & Regulations and most importantly US Taxation experts.
- Financial Advisor -The Certified Public Accountant certification paves a window of opportunities to work for some of the most acclaimed companies across the world. CPAs serves as financial advisors to individuals, small businesses and big MNCs in making informed financial decisions.
- Risk Consulting- CPAs are specialists who provide expert services in special areas like conducting risk assessments, analyzing big data, suggesting and implementing improvements plans to enhance overall control environment of an organization.
- Corporate Finance- A USCPAs has a significant role in the area of funding, including, Initial Public Offering (IPO) or Further Public Offering (FPO) or borrowings as he/she are well versed with the funding essentials. They possess the right knowledge of mergers and acquisition aspects as well. Since they understand the business deeply, they are experts of the accounting & taxation requirements, they can recommend the management about the judicious ways for the growth and benefit of the company the most effective ways
- Tax Preparation and Planning – CPAs perform tax filings for individual, small businesses and large corporate. They extend their expertise in budgeting& planning taxes on incomes for businesses proficiently and offer guidelines to the corporation on their tax aspect.
- Internal Auditing– CPA credential empower candidates with SEC rules & regulations, including SOX 2013 requirements. It helps internal auditor to follow the best industry practices and control risk effectively that can either be operational, financial, or related to internal audit.
- Information Technology –A CPA can play an indispensible role with respect to Information technology audits for an organization. As CPAs have thorough accounting auditing, including IT auditing knowledge. A keen aspirant can also widen their job prospective as an IT auditing.
- Income Tax–A CPAs can handle the wide variety of taxation matters of an individual, or business, including international taxation. They have deep understanding about all nuts and bolts required to fix different kind of tax filings.
- Business, Government, and Not for Profits- In this field, CPAs do hold a variety of roles extending from financial analysts, staff accountants to CFOs. They are the resource that every organization looks for recording, analyzing, and reporting financial information. Additionally, they perform budgeting and internal auditing functions which are vital for every business to function
Globally acclaimed Positions at which CPAs can work at:
- Finance Director
- CFO
- CEO
- Corporate Controllership
- Head of Internal Audit
- Risk Management Professional
- Compliance Head
- Financial Advisor
- Taxation Head and many more…
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Testing for US CPA Exam aspirants at test centers in India will begin on January 1, 2021.
Additionally, the CPA aspirants may begin to use the scheduler on November 2, 2020.IF you are a US CPA aspirant and of course you are, you can take the CPA exam sections without restrictions, other than expecting to receive scores from prior attempts of the same section or when there is a major revision to the exam.Despite the fact, continuous testing will replace the existing limited CPA Exam Testing Window model, which only permits aspirants to test in India during assigned time frames.
A journey to US CPAAccording to NASBA, the 55 U.S. Accountancy Boards support the move to continuous testing in India.
And this shift to a continuous testing model in India implies the power of alignment among state boards of accountancy, NASBA, AICPA, and Prometric, as these organizations continue to promote Exam aspirants on their journey to US CPA.Applicants should visit NASBA’s website to check that their Board of Accountancy has transitioned to the Continuous Testing model.Well, the agenda behind conducting the US CPA exams in India is to evade international traveling for the Indian CPA candidates in this uncertain time - the Novel Coronavirus.
And thankfully, this decision encourages the Indian students to ease the burden of traveling to countries like the United States, Dubai, for giving the US CPA exam.
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