CCIFP

CFMA Twin Cities Chapter Hosts CCIFP Exam

By Gretchen Kelly, CPA, CCIFP, CFMA Twin Cities Past President

The Twin Cities Chapter of Construction Financial Management Association (CFMA) hosted the Certified Construction Industry Financial Professional (CCIFP) exam on November 5^th at APi Group in New Brighton, Minnesota.

The CCIFP designation benefits more than just financial managers in the construction industry, it benefits construction companies and the industry as a whole.

Construction financial managers who hold the CCIFP designation have demonstrated their mastery of the complex body of knowledge that’s unique to the construction industry. The areas of knowledge: accounting and reporting, income recognition methods, budgeting and planning, risk management, income taxes, human resources, legal, and information technology - are all key to the success of any construction organization.

To further enhance their competencies, CCIFPs must maintain their certification through continued professional education (CPE). They must complete 72 hours or credits of CPE in each three-year reporting period, and 48 of the those credits must be construction specific topics. In addition to CPE requirements, all CCIFPs agree to adhere to the Institute of Certified Construction Industry Financial Professionals (ICCIFP) Code of Ethics.

Owners of construction companies who hire and support these professionals understand they enhance their own organization’s credibility and integrity within the industry. They can be confident their construction financial managers have the knowledge, skills and integrity to represent them and their organization professionally. This also is a key factor for owners when working with their professional service providers such as bankers, insurance agents, surety underwriters, CPAs and lawyers. Owners should expect their professional service providers to have the same deep understanding of the specialized knowledge and skills required of construction financial managers to provide the highest possible level of service. For this reason, many of the current CCIFP certificate holders are professional service providers to the industry.

Information regarding upcoming exam dates and locations or application information can be found online at http://www.iccifp.org/.