Top Certifications for Controllers in 2024 (Ranked)

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Getting Certified as a Controller

In the realm of finance, the role of a Controller is both critical and complex, requiring a mastery of accounting principles, regulatory compliance, and strategic financial management. Certifications in this field serve as a testament to professional competence and a commitment to excellence in financial leadership.

This guide aims to illuminate the path to becoming a certified Controller, providing a comprehensive overview of the top certifications that can enhance your credibility, advance your career, and ensure you remain at the forefront of financial stewardship. Whether you are beginning your journey or seeking to fortify your expertise, the right certification can be a powerful catalyst for professional growth in the ever-evolving landscape of financial control.

Top Controller Certifications

Certified Management Accountant (CMA)

Institute of Management Accountants (IMA)

Chartered Global Management Accountant (CGMA)

Association of International Certified Professional Accountants (AICPA)

Certified Internal Auditor (CIA)

The Institute of Internal Auditors (IIA)

Certified Public Accountant (CPA)

American Institute of Certified Public Accountants (AICPA)

Certified Information Systems Auditor (CISA)

Information Systems Audit and Control Association (ISACA)

Certified Government Auditing Professional (CGAP)

The Institute of Internal Auditors (IIA)

Financial Risk Manager (FRM)

Global Association of Risk Professionals (GARP)

Certified Financial Services Auditor (CFSA)

The Institute of Internal Auditors (IIA)

Chartered Financial Analyst (CFA)

CFA Institute

Certified Fraud Examiner (CFE)

Association of Certified Fraud Examiners (ACFE)

Best Controller Certifications

Certified Management Accountant (CMA)

Certification Provider

Institute of Management Accountants (IMA)

Best For

Management Accountants, Financial Analysts, Finance Managers, Controllers, Chief Financial Officers, Accounting Managers

Description

The Certified Management Accountant (CMA) is a globally recognized certification offered by the Institute of Management Accountants (IMA) that signifies expertise in financial management and strategic business performance. Focusing on advanced accounting, management, and analytical skills, the CMA prepares professionals to support financial decision-making in business, with a curriculum covering financial planning, analysis, control, and decision support. The certification process involves rigorous exams and continuous education, making it ideal for accountants and finance professionals aiming to enhance their career prospects and leadership potential.

Includes Certification

Yes

Time to Complete

300-400 hours

Price

Prerequisites

Bachelor’s degree from an accredited college or university or an equivalent degree as determined by an independent evaluation agency.

Two continuous years of professional experience in management accounting or financial management.

Membership in the Institute of Management Accountants (IMA).

Completion of the CMA program’s two-part exam.

Compliance with the IMA’s Statement of Ethical Professional Practice.

Commitment to continuing education by completing 30 hours of CPE (Continuing Professional Education) annually, including two hours of ethics training.

Chartered Global Management Accountant (CGMA)

Certification Provider

Association of International Certified Professional Accountants (AICPA)

Best For

Management Accountants, Finance Managers, Financial Analysts, Chief Financial Officers, Controllers, Senior Accountants with strategic management focus

Description

The Chartered Global Management Accountant (CGMA) is a prestigious certification offered by the AICPA for professionals seeking to enhance their expertise in management accounting. This globally recognized credential emphasizes strategic management skills, financial analysis, and decision-making acumen. CGMA holders demonstrate proficiency in guiding businesses with financial planning, control, and strategy, making them valuable assets for leadership roles in diverse business environments. The certification process involves rigorous education, experience, and examination requirements, ensuring that CGMAs are equipped to meet the challenges of the modern business landscape.

Includes Certification

Yes

Time to Complete

Price

Prerequisites

Membership with the AICPA or the Chartered Institute of Management Accountants (CIMA).

A bachelor’s degree or an equivalent professional accounting qualification.

Completion of the CIMA Professional Qualification or the AICPA's CPA and CGMA Strategic Management Accounting Program.

A minimum of three years of relevant management accounting experience.

Passing the CGMA exam or meeting the examination requirements through the CIMA pathway.

Commitment to ongoing professional development and adherence to the AICPA's Code of Professional Conduct.

Certified Internal Auditor (CIA)

Certification Provider

The Institute of Internal Auditors (IIA)

Best For

Internal Auditors, Audit Managers, Risk Management Professionals, Compliance Officers, Quality Assurance Specialists, Financial Analysts with audit experience

Description

The Certified Internal Auditor (CIA) is a globally recognized certification granted by The Institute of Internal Auditors (IIA) for individuals aiming to excel in internal auditing. This certification focuses on enhancing the knowledge and skills required to perform professional internal audits, ensuring compliance with standards and the effective management of risks. It involves mastering core areas such as risk control, information technology, governance, and audit's role in business. CIAs are esteemed for their commitment to the field and adherence to ethical standards.

Includes Certification

Yes

Time to Complete

150-200 hours

Price

Prerequisites

A bachelor’s degree from an accredited university (or its equivalent), which will be verified through a degree confirmation form.

A minimum of 24 months of internal auditing experience or its equivalent (e.g., audit/assessment disciplines, such as external auditing, quality assurance, compliance, and internal control).

Agreement to abide by the IIA’s Code of Ethics.

Completion of the CIA exam syllabus, which is divided into three parts, each focusing on a different aspect of internal auditing.

Character reference signed by a CIA, CGAP, CCSA, CFSA, CRMA, or the candidate's supervisor.

Proof of identification (government-issued ID like a passport or driver’s license) to be presented at the time of testing.

Certified Public Accountant (CPA)

Certification Provider

American Institute of Certified Public Accountants (AICPA)

Best For

Public Accountants, Auditors, Tax Accountants, Financial Analysts, Forensic Accountants, Management Accountants

Description

The Certified Public Accountant (CPA) credential, administered by the American Institute of Certified Public Accountants (AICPA), is a prestigious certification for accounting professionals. It signifies expertise in financial accounting, auditing, tax, and regulatory compliance. Obtaining the CPA license requires passing a comprehensive exam, meeting education requirements, and gaining relevant work experience. CPAs are recognized for their strategic thinking, ethical standards, and commitment to continuous learning, equipping them for careers in various sectors, including public accounting, corporate finance, and government.

Includes Certification

Yes

Time to Complete

Price

Prerequisites

Bachelor's degree: A minimum of a 4-year bachelor's degree or its equivalent from an accredited university is typically required.

150 semester hours of education: Most states require candidates to have completed 150 semester hours of college coursework, which may be more than a typical bachelor's degree.

Accounting and business coursework: Specific coursework in accounting and related business subjects is required, with the number of hours varying by state.

Passing the Uniform CPA Examination: Candidates must pass all four sections of the CPA exam, which covers Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, and Regulation.

Work experience: Most states require at least one to two years of accounting experience under the supervision of a licensed CPA.

Ethics exam: Some states require candidates to pass a professional ethics exam for state-specific ethical standards.

Certified Information Systems Auditor (CISA)

Certification Provider

Information Systems Audit and Control Association (ISACA)

Best For

IT Auditors, Information Security Analysts, IT Risk Managers, IT Compliance Officers, Internal Auditors, IT Consultants with auditing focus

Description

The Certified Information Systems Auditor (CISA) is a globally recognized certification offered by ISACA that validates an individual's expertise in auditing, controlling, and assurance of information systems. It focuses on the critical skills needed to manage vulnerabilities and ensure compliance with standards. CISA certification involves rigorous examination and is ideal for IT auditors, control professionals, and risk managers seeking to affirm their proficiency in information system governance and security practices.

Includes Certification

Yes

Time to Complete

150-170 hours

Price

$575 - $760

Prerequisites

A minimum of five years of professional information systems auditing, control, or security work experience (waivers for up to three years of experience are available for certain education and work-related achievements).

Successful completion of the CISA examination.

Adherence to the ISACA Code of Professional Ethics.

Compliance with the Continuing Professional Education (CPE) Policy which requires maintaining and extending knowledge, skills and professional competence with a minimum of 20 CPE hours annually and 120 CPE hours over a three-year period.

Agreement to abide by the Information Systems Auditing Standards as set by ISACA.

Submission of the CISA Certification Application, including the application processing fee.

Certified Government Auditing Professional (CGAP)

Certification Provider

The Institute of Internal Auditors (IIA)

Best For

Government Auditors, Internal Auditors in Public Sector, Audit Managers with Government Focus, Public Sector Financial Analysts, Compliance Officers in Government Agencies, Risk Management Specialists in Public Sector

Description

The Certified Government Auditing Professional (CGAP) certification, offered by The Institute of Internal Auditors (IIA), is a prestigious credential tailored for auditors working in the public sector. It validates an individual's expertise in government auditing practices, risk management, and quality assurance. The certification process involves rigorous exams and requires a deep understanding of professional standards, governance, and the unique challenges of government accountability. Earning the CGAP demonstrates a commitment to excellence in public sector auditing.

Includes Certification

Yes

Time to Complete

Price

Prerequisites

A minimum of a Bachelor’s degree from an accredited university recognized by the IIA, or its equivalent.

At least two years of experience in a government environment (audit or assessment) or an equivalent profession, which can be substituted by a Master's degree for one year of required experience.

Agreement to abide by the IIA's Code of Ethics.

Completion of the CGAP examination, which assesses knowledge of government auditing practices and related topics.

Character reference signed by a Certified Internal Auditor (CIA) or the candidate's supervisor, attesting to the candidate's moral and professional character.

Maintenance of the certification through continuing professional education (CPE) credits as required by the IIA.

Financial Risk Manager (FRM)

Certification Provider

Global Association of Risk Professionals (GARP)

Best For

Risk Manager, Financial Analyst with risk focus, Credit Risk Analyst, Market Risk Analyst, Risk Consultant, Portfolio Manager with risk management interest

Description

The Financial Risk Manager (FRM) certification, offered by the Global Association of Risk Professionals (GARP), is a prestigious credential for finance professionals specializing in risk management. This rigorous program equips candidates with the ability to analyze and control financial risk in a dynamic market environment. The certification covers key topics such as market risk, credit risk, operational risk, and risk management in investments, emphasizing practical application and theoretical knowledge. Earning the FRM designation demonstrates a commitment to excellence and a deep understanding of the complex factors driving financial risk.

Includes Certification

Yes

Time to Complete

150-200 hours

Price

Prerequisites

A bachelor's degree or equivalent. In lieu of a degree, two years of professional full-time work experience in the field of financial risk management or another related field.

Passing the FRM Exam Part I, which focuses on the tools used to assess financial risk.

Passing the FRM Exam Part II, which focuses on the application of the tools acquired in Part I to manage risk in real-world situations.

A minimum of two years of professional full-time work experience in the field of financial risk management or related areas such as trading, portfolio management, faculty academic, industry research, economics, auditing, risk consulting, and/or risk technology.

Work experience must be gained after completing the bachelor’s degree, and within 10 years of passing the FRM Exam Part II.

Agreement to adhere to the GARP Code of Conduct.

Certified Financial Services Auditor (CFSA)

Certification Provider

The Institute of Internal Auditors (IIA)

Best For

Internal Auditors, Financial Services Auditors, Audit Managers, Risk Management Specialists, Compliance Officers, Financial Analysts with auditing experience

Description

The Certified Financial Services Auditor (CFSA) is a professional credential offered by The Institute of Internal Auditors (IIA) for audit professionals specializing in banking, insurance, securities, and other financial services. The certification demonstrates expertise in auditing principles and practices within the financial services industry. Candidates must pass an exam that covers financial services auditing, fraud, financial instruments, and regulatory environments. This certification is ideal for those looking to advance their career in financial services auditing and risk management.

Includes Certification

Yes

Time to Complete

Price

Prerequisites

A bachelor's degree or equivalent from an accredited university is required; however, part of the education requirement can be waived with additional years of experience in internal audit or a related field.

A minimum of 24 months of internal auditing experience or its equivalent. A master's degree can substitute for 12 of the required 24 months.

Agreement to abide by the IIA's Code of Ethics.

Proof of identification is required to sit for the exam.

Completion of the CFSA exam, which assesses knowledge of auditing principles and practices within the financial services industry.

Maintenance of the certification through continuing professional education (CPE) credits.

Chartered Financial Analyst (CFA)

Certification Provider

CFA Institute

Best For

Portfolio Manager, Equity Research Analyst, Investment Banker, Risk Manager, Financial Advisor, Corporate Financial Analyst

Description

The Chartered Financial Analyst (CFA) certification, offered by the CFA Institute, is a prestigious credential for finance and investment professionals. It signifies a strong understanding of advanced investment analysis and real-world portfolio management skills. The rigorous program is divided into three levels, each requiring a comprehensive exam. Candidates must also demonstrate four years of professional experience. The CFA charter is globally recognized and emphasizes ethical and professional standards, positioning charterholders for career advancement in the financial sector.

Includes Certification

Yes

Time to Complete

300-400 hours per level

Price

Prerequisites

A bachelor's degree or equivalent: Candidates must have completed a bachelor's degree or be in the final year of their bachelor's degree program at the time of registration.

Work experience: Four years of professional work experience in the investment decision-making process, or a combination of professional work and university experience that totals at least four years.

Passport: A valid international travel passport is required for enrollment and exam registration.

Professional conduct: Agreement to adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct.

Exam registration: Candidates must register for each level of the CFA exam and pay the associated fees.

Membership: After passing all three levels of the CFA exam, candidates must become members of the CFA Institute to receive the CFA charter.

Certified Fraud Examiner (CFE)

Certification Provider

Association of Certified Fraud Examiners (ACFE)

Best For

Forensic Accountants, Auditors, Fraud Investigators, Compliance Officers, Risk Management Professionals, Law Enforcement Officers

Description

The Certified Fraud Examiner (CFE) credential, issued by the Association of Certified Fraud Examiners (ACFE), is a premier certification for professionals in the anti-fraud field. It equips candidates with expertise in fraud prevention, detection, and deterrence. The program covers four main areas: Fraudulent Financial Transactions, Fraud Prevention and Deterrence, Legal Elements of Fraud, and Fraud Investigation. Earning the CFE demonstrates a proven understanding of complex fraud issues and is valued by employers across various industries.

Includes Certification

Yes

Time to Complete

90-100 hours

Price

Prerequisites

Bachelor's degree from an institution of higher education; or equivalent professional experience.

Minimum of two years of professional experience in a field related to fraud detection, prevention, or investigation, such as auditing, loss prevention, law, or accounting.

Agreement to abide by the ACFE Code of Professional Ethics.

Completion of the CFE Exam, which covers four areas: Fraudulent Financial Transactions, Fraud Prevention and Deterrence, Legal Elements of Fraud, and Fraud Investigation.

Endorsement from a Certified Fraud Examiner in good standing, attesting to the candidate's character and professional experience.

Membership in the Association of Certified Fraud Examiners (ACFE).

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Benefits of Having a Controller Certification

Professional Validation and Expertise: Achieving a Controller certification is a powerful declaration of your proficiency and dedication to financial leadership. It serves as an objective endorsement of your skills, signaling to employers, colleagues, and clients that you possess a comprehensive understanding of financial controls, reporting, and strategic fiscal management.

Comprehensive Knowledge and Specialized Skills: Controller certifications are designed to deepen your grasp of core financial principles while also imparting specialized competencies such as risk management, compliance, and advanced financial analysis. This education ensures you are well-equipped to navigate the complexities of financial stewardship in today's business environment.

Career Progression and Competitive Edge: In the finance industry, where the stakes are high and the competition is fierce, a Controller certification can be the key differentiator. It not only enhances your resume but also showcases your initiative to go above and beyond, potentially leading to more significant career opportunities, promotions, and salary increments.

Networking and Professional Community: Certification programs often come with the added benefit of joining a network of professionals who share your commitment to excellence in financial control. These connections can be instrumental in discovering new job opportunities, mentorship, and collaborative ventures, as well as staying abreast of industry developments.

Confidence in Leadership and Decision-Making: The rigorous process of earning a Controller certification instills a greater level of self-assurance in your ability to lead financial teams and make critical decisions. This confidence is rooted in a solid foundation of knowledge and the practical application of financial strategies, empowering you to act decisively and with authority in your role.

How to Choose the Best Controller Certification

Selecting the right certification as a Controller is a pivotal step in enhancing your professional credibility and opening doors to advanced career opportunities. In the financial world, where precision and expertise are paramount, the certifications you hold can significantly distinguish you from your peers. This section is dedicated to guiding Controllers through the strategic process of choosing certifications that not only validate their expertise but also align with their career progression and the dynamic nature of the financial industry.

Assess Alignment with Professional Expertise: Evaluate how a certification complements your existing skills and experience. If your strength lies in financial reporting, consider certifications that delve deeper into GAAP or IFRS standards. For those with a knack for internal controls, look for certifications that emphasize auditing and compliance.
Industry-Specific Knowledge: Opt for certifications that provide specialized knowledge pertinent to your industry. Controllers in manufacturing might benefit from certifications that focus on cost accounting, while those in finance could look for certifications that enhance understanding of financial regulations and risk management.
Recognition and Credibility: Prioritize certifications from reputable organizations that are widely recognized within the finance and accounting community. Certifications such as the Certified Public Accountant (CPA) or Chartered Global Management Accountant (CGMA) are highly regarded and can significantly impact your professional standing.
Continuing Education and Advancement: Choose certifications that require or offer continuing education opportunities. This commitment to ongoing learning demonstrates to employers your dedication to staying current with best practices and emerging trends in the field of finance and accounting.
Long-Term Career Aspirations: Reflect on how a certification aligns with your long-term career goals. If you aim to transition into a CFO role, consider certifications that broaden your understanding of strategic financial management and leadership, such as the Certified Management Accountant (CMA) or Certified Financial Services Auditor (CFSA).

Preparing for Your Controller Certification

Achieving a certification as a Controller is a significant step in advancing your career in finance and accounting. It's a process that requires dedication, a strategic approach, and a deep dive into the complexities of financial management and control. A certification not only validates your expertise but also equips you with the latest tools and methodologies needed to excel in this evolving field. To ensure you're thoroughly prepared to tackle the certification exam and integrate the knowledge into your career, follow these targeted strategies.

Identify Your Certification Goals: Begin by determining what you aim to accomplish with your Controller certification. Are you seeking to solidify your expertise in financial reporting, enhance your strategic planning skills, or master regulatory compliance? Understanding your professional goals will help you select the right certification and tailor your preparation to focus on the areas that will benefit your career trajectory.

Develop a Comprehensive Study Schedule: Once you've chosen your certification, create a detailed study schedule that encompasses all the topics included in the certification syllabus. Allocate dedicated study times throughout the week and break down the syllabus into smaller, more digestible sections. This structured approach allows you to systematically work through the material, ensuring you have ample time for revision and self-assessment.

Utilize Diverse Learning Resources: To fully grasp the material, incorporate a variety of learning resources into your study plan. This can include textbooks, online courses, webinars, and professional workshops. Diversifying your study materials can provide different viewpoints and explanations, which can be crucial for understanding complex concepts and standards in financial control.

Join a Community of Finance Professionals: Networking with other Controllers and finance professionals can greatly enhance your preparation. Look for study groups, online forums, and professional associations that offer support and resources for certification candidates. Engaging with peers can lead to the exchange of study strategies, clarification of difficult topics, and moral support throughout your certification journey.

Practice with Real-World Scenarios: Applying theoretical knowledge to practical situations is essential for Controllers. Seek out case studies, simulation exercises, and any opportunities to apply the principles in your current role. This hands-on practice will not only reinforce your learning but also demonstrate how the concepts can be implemented effectively in a real-world setting.

Regularly Evaluate Your Progress: Throughout your preparation, it's important to regularly assess your understanding of the material. Take practice exams, use flashcards, and engage in discussions to test your knowledge. This will help you identify areas that need further study and build confidence as you approach the certification exam date.

Certification FAQs for Controllers

Is getting a Controller certification worth it?

The worth of a Controller certification hinges on your professional background, career aspirations, and the nuances of the finance industry you're in. For those new to financial management, a certification can solidify core competencies, introduce best practices, and signal dedication to the field. For seasoned Controllers, it offers a platform to refine expertise, stay abreast of regulatory changes, and showcase a commitment to ethical standards and professional growth.

Certifications can also bolster your professional standing, providing a competitive edge in a field that values precision, regulatory compliance, and strategic financial oversight. In essence, a Controller certification can be a valuable investment in your career trajectory, enhancing both credibility and opportunities.

Do you need a certification to get a job as a Controller?

While certification is not an absolute requirement for becoming a Controller, it can significantly enhance your job prospects. Holding a certification such as the Certified Public Accountant (CPA) or the Chartered Global Management Accountant (CGMA) demonstrates a rigorous standard of financial expertise and commitment to the profession.

Employers often regard these certifications as a testament to your technical skills and understanding of complex financial regulations. Although practical experience and a strong grasp of accounting principles are paramount, a certification can distinguish you in a competitive job market and may be particularly beneficial if you're advancing from roles that do not explicitly focus on financial control.

Can Controller certifications help pivoters make the transition into Finance from another career path?

Yes, Controller certifications can be a significant asset for those transitioning from other careers into financial control. These certifications typically delve into advanced accounting principles, financial reporting, compliance, and strategic management—core competencies of a Controller. They not only fill educational gaps but also signal to employers a serious commitment to mastering the intricacies of financial leadership. Additionally, the process of certification can provide networking opportunities with finance professionals and peers, which can be crucial for establishing credibility and connections in the field.

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Read About Controller Tools & Software

Controller Certifications

Getting Started as a Controller

Getting Certified as a Controller

Top Controller Certifications

Best Controller Certifications

Certified Management Accountant (CMA)

Chartered Global Management Accountant (CGMA)

Certified Internal Auditor (CIA)

Certified Public Accountant (CPA)

Certified Information Systems Auditor (CISA)

Certified Government Auditing Professional (CGAP)

Financial Risk Manager (FRM)

Certified Financial Services Auditor (CFSA)

Chartered Financial Analyst (CFA)

Certified Fraud Examiner (CFE)

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Benefits of Having a Controller Certification

How to Choose the Best Controller Certification

Preparing for Your Controller Certification

Certification FAQs for Controllers

Is getting a Controller certification worth it?

Do you need a certification to get a job as a Controller?

Can Controller certifications help pivoters make the transition into Finance from another career path?

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