Many people ask whether CIFA is better than CPA in Kenya. Well, my answer is NO.CPA is by far better than CPA.The reason why CPA is better is that it’s wide and highly recognized. Even if you go to the US, they will recognize the courses. But CIFA is only recognized in Kenya.
Once you finish CPA, you will become an auditor, Accountant or Finance officer. The program is wide. But with CIFA, you are only limited to Finance.
The only way CIFA is better than CPA is if you complete the course and proceed to pursue CFA.The Chartered Financial Analyst(CFA) course is among the best professional programs in the world and certainly better than CPA.
CIFA is ideal for students who want to become Financial Analysts or Financial Managers or Investment Analysts. It’s for people who specialize in Finance in the undergraduate course. But in our Kenyan system, it’s hard to specialize in Finance and end up becoming a Financial Analyst. You may pursue Finance and become an accountant. The jobs in the finance sector are also few. Since there is uncertainty in the job market, it’s advisable to pursue CPA instead of CIFA.
You will only pursue CIFA if you are already employed as a Financial Analyst, Research Analyst or Investment Analyst. Or when your mind is clear that you will pursue CFA in future.CIFA will act as a foundation to CFA,because CFA is a tough course.
In terms of employment, CPA has more job opportunities. You can become an accountant, auditor,taxman etc.But CIFA will only limit you to finance.
CPA has also many reading materials. You will never struggle to find the resources. Passing exam is easier.
Some employers don’t know whether CIFA exists. Even if you list it in your CV it won’t carry heavy weight as CPA.
Any time, any day, I will advise you to pursue CPA instead of CIFA.
The only courses which are better than CPA are,CFA and ACCA.
