CCIFP Certification Increases Leadership Effectiveness
Earning the CCIFP designation can help construction financial professionals become better leaders. Through their efforts prior to and following the exam, CCIFPs further develop leadership effectiveness in ethics, professional knowledge, and professional credibility.
While effective leaders in every field should always aim to work ethically, ethics is of particular importance in construction financial management. High-profile, financial scandals in years past have pointed toward the increasing need to prioritize ethics in the field, not to mention that the nature of the construction industry makes it one especially susceptible to fraud.
For these reasons, the founders of the Institute looked to highlight ethical behavior as a key component of the designation and established a Code of Ethics. To become a CCIFP, you must sign the Code of Ethics and recommit each time certification is renewed. By signing the Code, CCIFPs commit to the following Standards of Conduct:
- To be honest and forthright and act with integrity, fairness, and professional care in all dealings.
- To not knowingly violate any generally accepted accounting principles or laws or regulations.
- To not disclose confidential information acquired in the course of duties unless permitted to do so or when required by law.
- To not engage in any activity that may give the appearance of illegal or unethical behavior.
- To be alert to activity of their company/employer and if any activity which is known to be illegal or fraudulent is discovered, to report such knowledge.
- To disclose all actual, apparent, and potential conflicts of interest to all appropriate parties who could be affected by the existence of an actual, apparent, or potential conflict.
- To maintain competence through continuous professional education.
In order to effectively lead a company’s finance functions and be part of an executive team, it is key to have a mastery of the knowledge of construction financial management and thus, the following knowledge domains: Accounting & Reporting; Income Recognition Methods; Risk Management; Budgeting & Planning; Legal; Human Resources; Taxes; and Information Technology.
As I have often mentioned, the difference between an occupation and a profession lies in certification. Being a CCIFP outwardly demonstrates to your organization, the team you lead, and external parties that you are truly a professional.
CFMs should be viewed as company leaders, and earning certification will greatly contribute to this effort.
Copyright © 2019 by the Construction Financial Management Association (CFMA). All rights reserved. This article first appeared in CFMA Building Profits and is reprinted with permission. CFMA Building Profits is a member-only benefit; join CFMA to receive the magazine.
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