Question

Do you think the potential to lose your CPA certification is higher in public accounting or in government and industry?

Answer 1

CPA license is a very difficult license to earn.CPA is a license to provide accounting services to the public.

Each state has a Board of Accountancy that investigates ethics issues and complaints of malpractice and also has their own laws and regulations when it comes to ethical conduct.CPAs can lose their licenses by committing any of the following acts.

• Acts of fraud and dishonesty
• Failure to file a tax return
• Filing a fraudulent tax return on behalf of themselves or a client
• Conviction of a felony.
• Obtaining fees under fraudulent practices.
• Professional conduct and ethical behavior that indicates an inability to practice as a Certified Public Accountant.

As a CPA both your professional and private life with regards to conduct can be monitored and put your license at risk & may lose their license if convicted of a crime that is punishable by a minimum of one year in prison.

Various substantiated allegations made against you have the potential to get you in trouble to lose your CPA certification is higher in public accounting or in government and industry, if you are accused of violating standard accounting practices, if you are charged with a criminal offense or a formal complaint has been filed that charges you with an ethics violation or professional malpractice.

Like their in public accounting and industry.CPAs in government have responsibilities in the areas of auditing, financial reporting and management accounting. In addition, CPAs in government have the opportunity to evaluate the efficiency of government departments and agencies at the federal, state, and local levels.

Federal Government: CPAs work include the Federal Bureau of Investigation (FBI), the Internal Revenue Service (IRS), Department of the Treasury & the General Accounting Office (DTGAO). Responsibilities may include:

• Performing research & analysis on financial management issues
• Investigating white collar crime
• Managing financial statement audits for government agencies
• Testifying before a legislative committee on an audit or on the impact of pending tax legislation

State & Local Government: CPAs are involved in conducting financial, performance or compliance audits which may include:

• The effectiveness of the workers' compensation system
• Analyzing a school district's ability to remain viable
• The regulatory compliance of hazardous waste programs.
• The propriety of expenditures for constructing prisons