What is a Certified Internal Auditor?
Certified Internal Auditor is the premier program of the Institute of Internal Auditors USA. The CIA qualification is the only globally accepted certification for internal auditors which is considered a gold standard in the field of Internal audit. Established in 1941, with its headquarters in Lake May, Florida, United States, IIA has over 1,85,000 members in nearly 190 countries. The relevance of Internal audit is ever-increasing in today’s fast-paced and complex corporate world.
Why should I choose the Certified Internal Auditor program after graduation?
Since the global financial crisis, demand for CIA professionals has increased around the globe. Now is the best time to craft your future in this promising profession. In today’s corporate world, with the increase in the number of financial frauds and tightening global standards by regulatory bodies, the importance of internal audits is higher than ever before. There is a huge demand for Certified Internal Auditors globally as there are only very few certified Internal auditors around the world right now and the salaries are on the rise. Therefore, by becoming a member of this elite and prestigious Institute, you get to skyrocket your career into the Global Arena. More about CIA.
What does a Certified Internal Auditor do?
The practice is a key component in the assurance structure of an organization. Internal audit is a cornerstone of good corporate governance in every organization and plays a vital role in improving management accountability. The internal auditor is an integral part of every large organisation. The internal auditor advises the management in taking the right decisions and in the best possible manner to reduce risk and improve profits. Internal Auditor is one of the most powerful roles in every company who audits the functioning and quality of various departments and ensures standards on behalf of the management.
Cool! What are the job opportunities like?
Certified Internal Auditor is one of the very few qualifications which allows you to work anywhere around the world. As you will be an Internal auditing expert, this gives you the freedom to open your wings and fly to the destination you choose. Certified Internal Auditor qualification is valid in a staggering 190 countries so the world is your playground! There is a huge demand for Certified Internal Auditors in India as well as in regions like North America, Europe, the Middle East and Africa. In India, all major corporations have large Internal Audit departments which constantly search for fresh talents. The banking sector, manufacturing industries, Non-banking financial entities, Retail sector, and export industries, all require a large number of Certified Internal auditors to handle their Internal audit departments.
Great! What will I learn in the Certified Internal Auditor program?
The CIA program is divided into three parts.
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part 1 Internal Audit basics
The Internal Audit basics Examination has 125 Questions to be completed in 2.5 hours. All questions are multiple-choice.
- Mandatory Guidance (35-45%)
- Internal Control / Risk (25- 35%)
- Conducting Internal Audit Engagement Audit tool & Technique (28-38%)
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part 2 Internal Audit Practice
It is shorter than Part 1, with 100 questions and the duration is 2 hours. There are only multiple-choice questions.
- Managing the Internal Audit Function (40-50%)
- Managing Individual Engagements (40-50%)
- Fraud Risk and Control (5-15%)
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part 3 Internal Audit Knowledge Elements
It has the same format as part 2
- Governance / Business Ethics (5-15%)
- Risk Management; Proficiency level (10-20%)
- Organisational Structure / Business Processes and Risks (15 – 25%)
- Communication (5-10%)
- Management / Leadership Principle (10-20%)
- IT/Business Continuity (15-25%)
- Financial Management (13-23%)
- Global Business Environment (0-10%)
Am I eligible for the CIA?
If you are a graduate, then you are eligible to appear for the Certified Internal Auditor program. CIA’s biggest advantage is its duration. When similar programs require you to invest at least three years to complete three stages you can complete CIA in 8 months if you are dedicated and determined. Once you successfully complete all 3 parts of the CIA, you can start your two years of mandatory work experience, which is required to get enrolled as a Certified Internal Auditor. If you have a Masters’s degree, then you only require only one year of mandatory work experience.
Great! You got me excited! How do I begin?
To become a proficient Certified Internal Auditor a candidate requires good mentoring and teaching to properly understand the concepts of what is being taught. This is where having a good learning partner is of great importance. Level3 ensures your success as we have the best faculty panel for Certified Internal Auditor training Our well-defined and structured training program ensures the candidate has clear subject knowledge and conceptual understanding. Our students undergo structured learning resulting in the best results with academic excellence.
Am charged up!! What next?
Superb. You can connect with our expert career councillors who will help you supercharge your career. Please feel free to contact us at +91 70346 05555, so that our team can get in touch with you soon.
