Certification in Action: Nicolas Waldenmayer - Articles

What challenges have you overcome that you could attribute to knowledge gained from the CCIFP designation?

Eide Bailly is currently a top 20 public accounting and consulting firm and has been recognized as one of the top construction accounting firms in the nation. Immediately before joining Eide Bailly, I was a partner of a much smaller firm located in Orange County, CA that specialized in the construction industry. And in July 2020, we merged with Eide Bailly while our country was dealing with the global pandemic.

The knowledge I obtained from my CCIFP designation helped me integrate seamlessly with the other construction industry experts in Eide Bailly without having to travel and connect in person during trying times.

Can you share a particular situation?

Having my CCIFP and promoting the CCIFP designation amongst our team has certainly paid dividends. Recently, I was preparing a proposal for services for a local subcontractor, and we were competing against an accounting firm that was similar in size for the work.

When it came time for the contractor to make a decision, they indicated that they chose to work with us because our team had more CCIFPs and that we went out of our way to demonstrate our knowledge of the construction industry.

What has been the most obvious advantage from becoming a CCIFP?

As a CPA, one of the best ways to differentiate yourself from your competition is to be able to demonstrate industry expertise. While other CPAs can say they’re construction industry experts, having your CCIFP credential is one of the best ways to prove your level of commitment and industry knowledge.

Obtaining my CCIFP has been instrumental in how I demonstrate my expertise to others within the industry. As a well-known designation that is valued industry-wide, it has opened many doors to new opportunities that would not have occurred if I was not a CCIFP.

Why is it important to have a CCIFP in your organization?

At Eide Bailly LLP, our slogan is “What inspires you, inspires us.” As an Associate Member providing public accounting services to the construction industry, the CCIFP designation demonstrates the passion we have for construction and highlights the specific expertise we have obtained through advising contractors in all areas of their business, not just financial statements and tax returns.

We want all of our CPAs who service the construction industry to obtain their CCIFP because we know contractors value the advantage that industry expertise provides their business.

Why would you recommend the CCIFP designation to another person/business?

Becoming a CCIFP has been one of the most rewarding accomplishments of my career. While it is an accomplishment to obtain the knowledge necessary to be among those who have passed the CCIFP exam, I find the most rewarding part to be the continued journey in maintaining the credential. Attending conferences, chapter events, and continuing education courses has facilitated an opportunity to meet the best and brightest people in the industry.

The benefit you will receive from earning your CCIFP is definitely a reflection of the effort you put into it. I would recommend pursuing the CCIFP designation to anyone in the construction industry.

If you have your CCIFP designation and would like to share your experiences, please reach out to Veronica Whitehead at vwhitehead@cfma.org.