November 1998 Issue


An increasing number of accountants and auditors are taking the Certified Financial Analyst (CFA) examination, according to statistics recently released by the Association for Investment Management and Research (AIMR). Accountants and auditors are one of the fastest growing occupations among those taking the examination.

The number of accountants taking the exam in 1997/98 was up 73% over the previous year. This is part of an increasing trend over the past three years, which have seen an increase of over 200%. Additionally, accountants are making up an increasing share of the exam population, now accounting for nearly seven percent of candidates, as opposed to approximately four percent in 1995/96.

The CFA designation is prevalent in the securities industry. The CFA may be the first step for many accountants toward becoming a money manager or investment adviser.

AIMR, headquartered in Charlottesville, administers the CFA exam. Over 32,000 individuals have received the designation since its inception in 1963, and the AIMR (formerly the Institute of CFAs) has since grown to 87 chapters in 79 countries across the world. Firms around the world are considering the skills that a CFA brings to the table when hiring and promoting securities analysts, portfolio managers, and other professionals involved in investment management. The CFA represents a commitment to educational responsibility among professionals in the investment environment. Maintaining the charter requires passing the three-level examination and fulfilling a three-year experience requirement, along with meeting rigorous ethical and professional standards. *

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