United States
In the United States, licensed accountants are Certified Public Accountants (CPAs) and in certain states, Public Accountants (PAs). Unlicensed accountants may be Certified Internal Auditors (CIAs), Certified Management Accountants (CMAs) and Accredited Business Accountants (ABAs). The difference between these certifications is primarily the legal status and the types of services provided, although individuals may earn more than one certification. Additionally, much accounting work is performed by uncertified individuals, who may be working under the supervision of a certified accountant. As noted above the majority of accountants work in the private sector or may offer their services without the need for certification.
A CPA is licensed by a state to provide auditing services to the public. Many CPA firms also offer accounting, tax, litigation support, and other financial advisory services. The requirements for receiving the CPA license vary from state to state, although the passage of the Uniform Certified Public Accountant Examination is required by all states. This examination is designed and graded by the American Institute of Certified Public Accountants.
A PA (sometimes referred to as LPA—Licensed Public Accountant) is licensed by the state to practice accountancy to a similar extent as are CPAs, except that PAs are generally not permitted to perform audits or reviews (Delaware is an exception, in that PAs are permitted to perform audits and reviews). A PA's ability to practice out of state is very limited due to most states having phased out the PA designation. While most states no longer accept new PA license applicants, six states still accept PA applicants for limited practice privileges within the state. As with the CPA, the requirements for receiving the PA license vary from state to state. Most states require a passage of either 2 or 3 (out of 4) sections of the CPA exam or passage of the Comprehensive Examination for Accreditation in Accounting which is administered and graded by the Accreditation Council for Accountancy and Taxation (ACAT).
A certified internal auditor (CIA) is granted a certificate from the Institute of Internal Auditors (IIA), provided that the candidate has passed a four part examination. One of the four parts is waived if the candidate has already passed the CPA Exam. A CIA typically provides services directly to an employer rather than to the public.
A person holding the Certificate in Management Accounting (CMA) is granted the certificate by the Institute of Management Accountants (IMA), provided that the candidate has passed an examination of two parts and has met the practical experience requirement of the IMA. A CMA provides services directly to employers rather than to the public. A CMA can also provide services to the public, but to an extent much lesser than that of a CPA.
A person holding the ABA credential is granted accreditation from the Accreditation Council for Accountancy and Taxation (ACAT), provided that the candidate has passed the eight-hour Comprehensive Examination for Accreditation in Accounting which tests proficiency in financial accounting, reporting, statement preparation, taxation, business consulting services, business law, and ethics. An ABA specializes in the needs of small-to-mid-size businesses and in financial services to individuals and families. In states where use of the word "accountant" is not permitted by non-licensed individuals, the practitioner may use the designation Accredited Business Adviser.
The United States Department of Labor's Bureau of Labor Statistics estimates that there are about one million persons employed as accountants and auditors in the U.S.
U.S. tax law grants accountants a form of accountant–client privilege.
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Famous quotes related to united states:
“The men the American people admire most extravagantly are the most daring liars; the men they detest most violently are those who try to tell them the truth. A Galileo could no more be elected President of the United States than he could be elected Pope of Rome. Both posts are reserved for men favored by God with an extraordinary genius for swathing the bitter facts of life in bandages of soft illusion.”
—H.L. (Henry Lewis)
“God knows that any man who would seek the presidency of the United States is a fool for his pains. The burden is all but intolerable, and the things that I have to do are just as much as the human spirit can carry.”
—Woodrow Wilson (1856–1924)
“Why doesn’t the United States take over the monarchy and unite with England? England does have important assets. Naturally the longer you wait, the more they will dwindle. At least you could use it for a summer resort instead of Maine.”
—W.H. (Wystan Hugh)
“... it is probable that in a fit of generosity the men of the United States would have enfranchised its women en masse; and the government now staggering under the ballots of ignorant, irresponsible men, must have gone down under the additional burden of the votes which would have been thrown upon it, by millions of ignorant, irresponsible women.”
—Jane Grey Swisshelm (1815–1884)
“The real charm of the United States is that it is the only comic country ever heard of.”
—H.L. (Henry Lewis)