CPA and CMA certifications evolving as Big 4 deploys AI agents in audit work

Yes, folks. Are you able to see my screen? How's it like?

Not yet, sir.

Not yet, sir.

Yes, because I have not shared the screen. That's why you're not able to share see the screen though. Okay. So, I think now we have the screen. So, yes guys, so we have CB and CMA. So this is where and for the people who are very new to these qualifications right and we'll be covering up about the AI impact and what's happening in the AI as well but first we'll go with the fundamentals and understand the qualification because we got a feedback from few of our webinars that a lot of the students first wanted to understand what is CP and CMA and AI second. So I'll not talk about AI first. I'll talk about the main qualifications and then I'll try to make you understand how AI is kind of getting impacted and uh I mean AI is kind of impacting the accounting audit and tax. So let's go ahead with CPA. So if you see that US CPA like we have in India chartered accountants basically US chartered accountants are known as CPA certified public accountants. So like we have in India cost management US cost management accountancy is known as US CMA. Now if you see where they specialize CPA basically right so they work in audit tax technology consulting risk forensics M&A obviously technology is going up a lot and lot of you might have seen the recent article of big force now that they are deploying a lot of agentic uh and lot of agents in the audit work. So you might see lot of reviewing and auditing of the agents itself and that's why the role of technology or the hiring in technology in audit is actually going up substantially and that's where the hiring is happening a lot in this particular segment and then you have consulting obviously you have the management consulting risk consulting and all those stuff and typically if you see in the management consulting normally MBAs and all are hired uh but they are also seeking for CPAs also in that area with respect to the finance uh transformations and all those projects and then you have risk advisory, you have forensics, then you have mergers and acquisitions. This is where the CPA specialized basically and this is a certification which is basically granted by US state, right? So there are 55 states in the US books and one of the states actually gives the CPA thing. Now lot of questions comes up with CPAs. Sir, I'm doing from Montana, I'm doing from Guam. So uh I'm doing from California so he's doing from New York. So easy more valuable I'm not nothing like that because it's a uniform CP examination. It really doesn't matter which state board you do your qualification. What matters is whether you pass the CPA exam or not. Okay. So what you need to ensure that first is you get your CPA eligibility right. Now what is CPA eligibility sir? Now in CMA you don't have a eligibility guys. Anyone can attend for CMA. there is no eligibility whatsoever for US CMA. So even if you're pursuing BCOM or you're just plus two, you can be eligible to sit for the CMA exam. But for CPA, this is where a lot of coaching institutes or a lot of the institutes never kind of promote CPA a lot because there's a lot of tougher things in the eligibility and I'll take you how these things are and how Simandar have actually excelled in CPA right and compared with also other uh institutes as well because CPA has one of the biggest trick is the eligibility itself. So if you see that you need a minimum of 120 credits to sit for the CPA exam. So typically if you are a graduate you get 90 credits and US graduation is four years. So every year of graduation is converted into certain number of units known as credits. So your first year of graduation gives you 30, second year gives you 30, final year gives you 30. So Indian graduation typically gives you 90 credits but US graduation because it's a 16 year education system. US graduation is four years and typically you require 120 credits. And that's why just with Indian graduation you might not sit for the CP exam. That is the reason we have something called as bridge course to ensure that you are eligible to sit for the CP exam. So you just so what is a bridge course sir? It's a bridge between 90 and 120. So that's more like a one-ear diploma program which some other conducts. It is same to same what is there in CPA guys. I've just taken out these four subjects content and I put that in the diploma. So you don't even need to study anything just here and exam that's all. There's nothing you need to prepare for that. Sir, why are we doing that? Because you have only 90 credits. If you are just a BCOM, you're not eligible for CPA exam. And that's why you do this bridge course in order to ensure that you're sitting for the CPA exam and you're getting it. Now, one very big rule change have come for CPA exam to get the CPA license. Previously, you required 150 credits. But now, as per the latest rule, that rule have got changed to 120 credits. So if you are a BCOM and if you are doing any diploma or anything like that or if you are doing any of CA enter or CS enter or CMA enter or if you are an MBA one year or masters one year also you will get 30 credits for that. So you don't need to do any bridge course sir if I'm a CN and I'm a BCOM 100% here. So you don't need to worry at all. Now how many of them in this webinar are just grads? Can you just put up in the Q&A window if you'd want to quickly kind of let me know how many of them are like that who are completed graduation but have not done CAS CMA MBA MCOM nothing doing only graduation pure graduation they have just finished the graduation and they are coming here actually and attending this webinar do we have certain people like that yes we have like that ankit is there Malakiran okay and Mohit and all so people who have completed BCO BBA BSc this One year bridge course should be more than sufficient guys. This is a compliment. You just need to take admission in this bridge course. You don't even need to complete. So sir, should I wait for one year of bridge course to complete and sit for the CP exam? No. The answer is you just need to take admission in that bridge course. What is this sir? So you sign an undertaking to that stateboard that I have only 90 credits. I am giving you an affidavit or a writing that I will complete the balance 30 credit in next 18 months. So you register for that bridge course. The moment you register you can sit for the exam. So you don't need to wait for the bridge course to complete because the immediate question is oh I need to do one more course and all right with this generation we don't want to work hard. So the moment I tell then they'll go on already sir we are doing so much of thing. I think we are the most busiest people on this planet and we also don't know what are we busy yet and why are we busy also. So having said that and not withstanding all those things. So even if you have lesser time this course I've just taken out two two chapters from that four subjects of CP and I've added that in the bridge course. So you don't need to study anything in that bridge course. You just need to enroll and take the admission and sail will help you. Obviously the question paper and the mock paper is prepared by us only though I don't want to leak it off and all those things but it's a very simple paper because they understand that you're already doing CPA so they are not hard at you also for testing that bridge course as well. So bridge course is nothing but that right. Okay. So uh okay once has a question what is cap? So once the cap is certified AI accounting analytics program so I'll come to that first I finish CP and CMA then I'll come for the AI program which Simundra has. So just hang on this is a problem with this generation CPA but cap. So let's focus on one thing and let's ensure that we are doing this. Okay. So see that this is a license granted by US state focuses on historical data to help guide future decisions and then you have CMA which is basically if you see that they are decision making. So people who hate accounting who don't like accounting at all who do not want journal entries nothing doing for them US CMA is the best qualification. So if you want to go into FPNA, if you want to go into strategy, if you go want to get into decision- making, if you really want to know why suppose for an example you are checking Infosys, you're working for Infosys. So why Infosys uh margins have gone down, why their cost is increasing, what is the reasons. So all that financial planning and analysis all those are done by certified management accountants. So they are known as futuristic accountants. They are the one who does the analytics. So people who are BSE, BTech a lot of the time they don't want to do the core CPA. They first go with CMA and then go with CPA. Either ways I'm fine with that. It completely depends on you because we anyway start with basics of accounting for people who are from non-accounting background. Sir, why are you doing that? Because there are a lot of people who are working professional who haven't touched books in ages. For them if I immediately start with a CPA section, they'll get afraid. The moment they'll see the book, they will not study. So that's why what we do is we start with basics of accounting so that we make you uh confident that okay this exam is very easy only to let you know that it is not like that but at least you get that feeling that after so many years you are studying you don't want to ensure that you are studying something really tough right and something which you don't understand also so that's the reason we do basics of accounting basics of audit and basics of tax classes and then we go with the main CPA and CMA sections okay cool so if you see that CMA's like I said work in the forensics, they work in the risk management, they work in FPNA, they work in the cost management. These are the profiles for US CMAs. Okay. So, which are the compan