James Kasim is a senior management executive based in Los Angeles with over 20 years of experience in the financial sector. Before obtaining his MBA from the University of Southern California’s Marshall School of Business, James Kasim pursued accreditation as a Certified Public Accountant (CPA).
Though the responsibilities of CPAs vary depending on company requirements, the central job of a CPA is to provide high-quality, state-regulated accounting services. While the job title of “accountant” can be bestowed upon any individual employed by a company who manages finances, professionals may only claim the title of “CPA” if they have fulfilled a list of qualifications supplied and regulated by the state in which they work.
To become a CPA, professionals must have a four-year degree in accounting and pass two separate examinations in various accounting skills and business ethics. Additionally, CPA candidates must work in a position that is directly supervised by an active CPA for at least 1,800 work hours.
Once certified, a CPAs are required to maintain their financial knowledge by staying current and familiar with financial laws and regulations. They must also renew their CPA license by participating in continuing education courses at a renewal rate set by the state in which they are certified to work.
James Kasim has been a certified public accountant (CPA) since 1994. Earlier in his career, James Kasim worked for Ernst & Young (EY), a well-known global professional services firm. During his tenure at EY, he managed several Sarbanes-Oxley control projects.
When it came into effect in 2002, the Sarbanes-Oxley Act (SOX) had major effects on corporate financial practices. The law was a reaction to major corporate financial scandals. Under SOX, companies have additional financial reporting duties and must file periodic reports to the Securities and Exchange Commission (SEC). For example, corporations must report relationships and transactions that affect a company’s financial status. Corporate management also is accountable for internal control structures and financial reporting.
SOX also established standards of engagement for firms that audit public companies and attorneys who represent public firms to the SEC. Companies need SOX experts to ensure compliance with the complex legislation or avoid severe penalties.
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