The Institute of Management Accountants (IMA) has sponsored a new certification ideal for undergraduate accounting students. The Financial and Managerial Accounting Associate (FMAA) certificate is a great way to get a head start in the financial field while you are attending school. 

Studying for the certificate is also a great way to learn and expand your knowledge of financial information. The certificate is affordable and feasible for accounting, finance, and business majors and requirements are entry level so you can do this while you work on your degree.

According to the IMA, this certificate adds value to your employment potential, builds your skillset, provides a step in your career advancement, and provides a way to improve your competitive advantage. This exam may also be a good way to begin studying for the more advanced certifications at a very reasonable cost.  

Information about the certification process, costs, and a sample questionnaire, and registration can be found at IMA FMMA Certificate

A comparison of IMA Certificate Programs can be located at IMA Certificate Programs

Sylvia DeAngelo, Ph.D.

Accounting Department

sdeangelo@purdueglobal.edu

Last month, we looked at using financial statement analysis to discover anomalies in financial data. Now we will turn to another important skill—interviewing. Having good interview skills is crucial, not just for investigative accountants, but also for auditors and investigative journalists.  Interviewing and obtaining evidence are important in auditing also! As CFE Beth Mohr put it, “If you don’t interview people, you don’t know much. Documents only get you so far” (Fraud Magazine, 2017).

Preparation is the first step in conducting effective interviews. Consider who you are interviewing. Consider their background, their professional knowledge, and other characteristics. Then select the location of the interview. Ideally, it should be a quiet area, free from distractions. The seating positions should allow you to observe the interviewee’s entire body. Experienced interviewers suggest that the interviewer should not be the person taking notes, as that is very distracting and may make the interviewee uncomfortable. The notetaker should take a position off to the side.

Know what topics you want to cover during the interview. Plan your questions to set the tone and direction of the interview. The five types of interview questions are introductory, assessment, informational, closing, and admission-seeking (Kranacher & Riley, 2023). Since we are interviewing for information, I will just focus on the first four. Introductory questions serve to introduce yourself and the purpose of the interview, as well as to develop rapport with your interviewee. Assessment questions help you to establish the credibility of the respondent (ask questions for which you already know the answers!). Informational questions form the meat of the interview; try to ask open ended questions that allow the interviewee to talk. Finally, by asking closing questions, you review and clarify the facts.

In most fraud cases, or even in looking at questionable items found when auditing, things may be different than what you think! Therefore, when you conduct the interview, be flexible if new information comes to light, and explore that area. Don’t feel that you must stick to the strict script that you have planned out—you may miss out on important information!

Adequately preparing for the interview and maintaining flexibility during your interview are essential aspects to keep in mind. After you master the basic skills needed to be an effective interviewer, you can then move on to the more challenging phase of analyzing the body language of people that you interview! There is always more to learn!

References

Carozza, D. (2017) Preparation and flexibility are keys to good interviews, Fraud Magazine, Fraud Magazine Article

Kranacher, M.J. and Riley, R. (2023) Forensic Accounting and Fraud Examination, 3rd Edition, Wiley

Cynthia Waddell, PhD, CPA, CFE

cwaddell@purdueglobal.edu