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Guidelines for Achieving the AICPA Core Competencies Through Experiential Learning Programs

This chart attempts to link the AICPA Core Competency Framework to the skills that could be developed as a result of an internship experience. As might be expected, internships are a rich opportunity to test and develop "personal competencies," but there are ample opportunities to address "functional competencies" and "broad business perspective competencies", as well.

 

Each school will need to evaluate their respective program to determine the extent to which these competencies are met. For more information on the recommended competencies, visit the Education Competency Assessment (ECA) Web site.

 

 

AICPA Core Competencies

As a result of the internship, a student will be able to

Functional Competencies

 

Decision modeling

·  Understand cause and effect of decisions


Risk analysis

·  Understand business risk and financial risk of the company and the industry


Reporting

·  Construct concise and clear documentation


Research

·  Research a problem efficiently and effectively


Leverage technology to develop and enhance functional competencies


·  Use technology to perform research and develop documentation

Personal competencies

 

Professional demeanor

·  Adapt to changing work environment, including differing requirements of different supervisors and tasks


·  Understand and follow office procedures


·  Dress professionally and maintain a professional demeanor

·  Demonstrate continuous improvement through a commitment to learning and learning from mistakes


·  Produce a reasonable volume of quality work


·  Respect confidentiality


Problem solving and decision making

·  Balance working independently and seeking help


·  Apply materiality concept


·  Apply knowledge from one situation to the next


·  Understand interrelationships of information and data


Interaction

·  Respect alternative ways of doing things


·  Work well with others


Communication

·  Communicate clearly in expression and content


·  Ask good questions


Project management

·  Organize and plan work


·  Prioritize work and meet deadlines


Leverage technology to develop and enhance personal competencies

·  Use technology to improve efficiency, including spreadsheets, word processing, graphing, the Internet


Broad Business

Perspective Competencies

 

Strategic/critical thinking

·  Apply cross functional academic training to the job


·  Develop a healthy skepticism


·  Begin a project with the end in mind


·  Understand the relationship of the task or project to the whole


Industry/sector analysis

·  Apply cross functional academic training to the job


Legal/regulatory perspective

·  Acquire knowledge of SEC reporting guidelines or statutory provisions of the Internal Revenue Code


Leverage technology to develop and enhance broad business perspective

·  Understand the interrelationship of systems


·  Use a systems approach to information structure


 

Copyright © 2005 by the American Institute of Certified Public Accountants, Inc., New York, New York.