A CPA license qualifies you to sign independent audit opinions, represent clients before the IRS, sit in the CFO’s chair at a public company, investigate financial crimes for federal agencies, testify as a financial expert in court, plan wealthy families’ estates, and open your own firm. So what can you do with a CPA? Just about any senior role in accounting, finance, or financial investigation, because the license is the gate that many of those roles sit behind.
Below are the main career tracks the credential opens, and what the day-to-day work in each actually looks like.
Public Accounting
Public accounting is the most common starting point, and many CPAs never leave. Working at a firm, you serve external clients rather than one employer. The signature service is auditing: examining a company’s financial statements to confirm they fairly present its financial position under generally accepted accounting principles.1PCAOB. AU Section 150 – Generally Accepted Auditing Standards Only a licensed CPA can sign an independent audit opinion, which is one of the biggest reasons the credential carries the weight it does.
The largest employers in this space are the Big Four: Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG. They audit most publicly traded companies worldwide and offer broad exposure to complex multinational engagements. Mid-size and regional firms handle similar work with a narrower client base, and many CPAs prefer them for the faster path to partnership.
Public accounting firms also handle tax preparation and planning for individuals, partnerships, and corporations. CPAs who sign returns as preparers attest that the filing is true, correct, and complete, and they can represent clients directly before the IRS under Treasury Department Circular 230.2Internal Revenue Service. Office of Professional Responsibility and Circular 230 Violating Circular 230 can lead to censure, suspension, or permanent disbarment from practicing before the IRS.
Corporate Finance and the CFO Track
Inside a private company, a CPA typically moves from staff accountant to senior accountant, then into management roles like controller or vice president of finance, and potentially up to chief financial officer. The work shifts from preparing numbers to interpreting them: building budgets, forecasting cash flow, evaluating acquisition targets, and presenting financial strategy to the board.
Public companies raise the stakes. SEC rules require annual reports on Form 10-K and quarterly reports on Form 10-Q, filed electronically through EDGAR and immediately available to the public.3U.S. Securities and Exchange Commission. Exchange Act Reporting and Registration Under the Sarbanes-Oxley Act, the CEO and CFO must personally certify that each filing is free of material misstatements and that internal controls over financial reporting are effective.4Office of the Law Revision Counsel. 15 USC 7241 – Corporate Responsibility for Financial Reports Getting that certification wrong exposes both the company and the signing officers to civil penalties and potential federal investigation. A CPA serving as CFO or controller builds the infrastructure that makes accurate certification possible.
Advisory and Consulting
Deep familiarity with financial operations makes consulting a natural extension of the license. Management advisory work spans a wide range: designing cost accounting systems, restructuring operations, implementing enterprise software, analyzing profitability by product line, and preparing companies for mergers or divestitures. The CPA advantage is that every recommendation is grounded in how it flows through the financial statements.
Technology advisory has become one of the fastest-growing niches. Companies increasingly hire CPAs to perform System and Organization Controls (SOC) engagements, which evaluate whether a company’s cybersecurity risk management program is designed and operating effectively. If you have an aptitude for IT systems, the Information Systems and Control discipline section on the CPA exam feeds directly into this track.
Government Agencies and Criminal Investigation
Federal agencies are major employers of CPAs. At the IRS, accountants examine taxpayer records to verify compliance with the Internal Revenue Code. The agency’s authority to examine books, papers, and records is broad, and the Secretary of the Treasury can summon any person and require testimony under oath when determining tax liability.5Office of the Law Revision Counsel. 26 USC 7602 – Examination of Books and Witnesses
The IRS Criminal Investigation division goes further. Special agents there combine accounting expertise with law enforcement training to investigate tax fraud, money laundering, and other financial crimes.6IRS Careers. IRS Criminal Investigation Special Agent The FBI similarly prioritizes white-collar crime, including public corruption, securities fraud, and health care fraud.7Federal Bureau of Investigation. What Is White-Collar Crime, and How Is the FBI Combating It? The Government Accountability Office employs accountants to audit federal spending and evaluate whether agencies use taxpayer money effectively.8U.S. Government Accountability Office. Resources Devoted by the Department of Justice To Combat White-Collar Crime and Public Corruption CPAs in these roles build the financial evidence prosecutors need, and the analytical skill to trace money through layers of transactions is something general agents rarely have.
Forensic Accounting and Business Valuation
Forensic accounting sits at the intersection of accounting and litigation. Practitioners calculate financial damages in lawsuits, identify embezzlement, trace hidden assets in fraud investigations, and reconstruct records that have been deliberately obscured. The work frequently ends in court. Under the Federal Rules of Evidence, a witness with specialized knowledge can testify as an expert to help a judge or jury understand complex financial matters.9Cornell Law School. Federal Rules of Evidence Rule 702 Forensic accountants fill that role in cases involving contract disputes, shareholder disagreements, insurance claims, and fraud prosecutions.
Business valuation is a closely related specialty. When companies merge, when a partner buys out another partner, or when a divorcing couple owns a business, someone needs to determine what that business is actually worth. CPAs who specialize in valuation analyze historical earnings, project future cash flows, compare the business to similar companies, and produce a defensible fair-market-value opinion. Courts in equitable distribution states routinely require business valuations before dividing marital property.
Two AICPA credentials signal expertise in these niches. The Certified in Financial Forensics (CFF) credential requires passing a dedicated exam and meeting experience requirements in forensic accounting. The Accredited in Business Valuation (ABV) works similarly for valuation specialists.10AICPA & CIMA. Propel Your Career With a Credential Both are available only to licensed CPAs in good standing.
Financial Planning and Wealth Management
CPAs who already prepare tax returns and advise on tax strategy have a natural on-ramp to full-service financial planning. Clients already trust you with sensitive financial information, and you understand how every planning decision affects tax liability. Work in this area covers retirement, estate, investment, insurance, and education funding. The tax angle differentiates a CPA financial planner from other advisors: you can model the after-tax impact of a Roth conversion or a charitable trust in a way most planners cannot.
The AICPA administers the Personal Financial Specialist (PFS) credential exclusively for CPAs who want to formalize their financial planning expertise. The PFS covers estate, tax, retirement, investment, and insurance planning.11AICPA & CIMA. Personal Financial Specialist (PFS) Credential Handbook Because only CPAs can earn it, the PFS signals a level of tax knowledge other planning credentials don’t require. Many CPA planners also hold the CFP, and the combination is a strong differentiator in the wealth management market.
Running Your Own Firm
Starting a firm is one of the most appealing possibilities the license opens. Solo practitioners and small firms serve individuals, small businesses, and nonprofits with services ranging from tax preparation and bookkeeping to payroll and advisory work. You choose your clients, set your rates, and can build the practice around a niche: restaurants, real estate investors, medical practices, whatever fits.
Opening a firm requires a firm permit from your state board of accountancy, separate from your individual license. If you perform audits or other attestation work, you’ll need to enroll in a peer review program. Under AICPA standards, enrolled firms undergo peer review every three years to evaluate whether engagements meet professional standards.12AICPA. Clarified AICPA Standards for Performing and Reporting on Peer Reviews Firms whose highest-level service is an audit undergo a system review of the entire quality control system. Firms that only compile or review financial statements go through a less intensive engagement review.
Running a firm also means keeping up with annual tax law changes, carrying professional liability insurance, and handling the business side: marketing, staffing, billing. The CPAs who thrive as owners tend to enjoy client relationships as much as the technical work.
Salary and Job Outlook
The median annual wage for accountants and auditors was $81,680 as of May 2024, according to the Bureau of Labor Statistics.13U.S. Bureau of Labor Statistics. Accountants and Auditors – Occupational Outlook Handbook That figure covers the whole profession, including accountants without the license. CPAs with active credentials typically earn a premium over non-credentialed accountants, and the gap widens at senior levels where many positions explicitly require the license. CFOs at public companies, partners at large firms, and specialists in forensic accounting or valuation routinely earn well above the median.
Employment of accountants and auditors is projected to grow 5 percent from 2024 to 2034, faster than the average for all occupations.13U.S. Bureau of Labor Statistics. Accountants and Auditors – Occupational Outlook Handbook Increasing regulatory complexity, growing demand for cybersecurity assurance, and retirements among baby-boomer CPAs are all pushing demand.
What It Takes to Hold the License
Every path above sits behind the same three gates: education, examination, and supervised experience. Requirements vary by state, but the framework is consistent, and each state’s board of accountancy sets its own thresholds.14NASBA National Association of State Boards of Accountancy. How to Get Licensed
Virtually every state now requires 150 semester hours of college coursework, effectively a fifth year beyond a standard bachelor’s. The CPA Examination is a four-section, 16-hour test: three Core sections covering Auditing and Attestation, Financial Accounting and Reporting, and Taxation and Regulation, plus one Discipline section chosen from Business Analysis and Reporting, Information Systems and Control, or Tax Compliance and Planning.15NASBA National Association of State Boards of Accountancy. What is the Uniform CPA Examination? The passing score on each section is 75.16AICPA & CIMA. Learn More About CPA Exam Scoring and Pass Rates Most states then require one to two years of experience under a licensed CPA, and many require an ethics exam, typically on the AICPA Code of Professional Conduct with a 90 percent passing threshold.17AICPA & CIMA. Professional Ethics: The American Institute of Certified Public Accountants Comprehensive Course (For Licensure) Once licensed, you renew on a biennial or triennial cycle and complete continuing professional education each period, generally around 80 hours every two years or 120 hours every three years.