The certification "CIA" (Certified Internal Auditor) is available to accountants who perform internal audits. The candidate can advance his auditing job to the next level by becoming a CIA. It is a title given by the IIA. (Institute of Internal Auditors). The work of CIA in the audit department of financial institutions, corporations, and government agencies.

The procedures to becoming CIA certified are outlined below.

  • Complete the necessary education

  • Register for the CIA test

  • Pass the test

  • Upload the necessary paperwork

  • Pay the exam fee

  • Schedule the exam sections and

  • Take the exam sections.

Complete the Educational Requirements:

In order to take the CIA test, candidates must meet the following educational requirements.

The candidate should possess an associate's degree that satisfies IIA requirements or must have graduated with a 3 or 4-year degree (or greater).

A degree in a particular subject is not required.

Candidates with seven years of experience in internal auditing or its equivalent can also be qualified for the CIA test.

This experience can be in the fields of applied science, business, healthcare, or any other field.

Register for the CIA test:

The Institute of Internal Auditors (IIA) only grants access to plan and register for the CIA exam after receiving all necessary forms, supporting documentation, and experience verification have been completed.

You are eligible to register for the Certified Internal Auditor exam once you have the necessary training and expertise.

Succeed on the CIA examination:

The CIA exam is not as difficult as you think and it is entirely computer-based, and it consists of 3 sections of CIA MCQs (Multiple Choice Questions).

Part: 1 – Internal Audit Basics

  • Internal Control / Risk (25-35%)

  • Mandatory Guidance (35-45%)

  • Audit Tools & Techniques – Conducting Internal Audit Engagements (25-35%)

Part: 2 – Internal Audit Practice

  • Managing Individual Engagements (40-50%)

  • Managing the Internal Audit Function (40-50%)

  • Fraud Risks and Controls (5-15%)

Part: 3 – Internal Audit Knowledge Elements

  • Business Processes/Organizational Structure(15-25%)

  • Governance/Business Ethics (5-15%)

  • Communication (5-10%)

  • Risk Management (10-20%)

  • IT/Business Continuity (15-25%)

  • Leadership/Management Principles (10-20%)

  • Global Business Environment (0-10%)

  • Financial Management (10-20%)

Sections No. of Questions Exam Duration
Internal Audit Basics (Part -1) 125 2.5 hours
Internal Audit Practice (Part -2) 100 2 hours
Internal Audit Knowledge Elements(Part -3) 100 2 hours
Upload the required documents:

The confirmation email from the Institute of Internal Auditors (IIA) provides all the instructions that are needed to submit the supporting documentation. To move on to the CIA program, you have to submit the following

Documents.
Acceptable forms of ID Unacceptable Forms of ID
Passport University or college ID
Government-issued driver’s license Employee ID or work badge
Military ID Insurance card
Government-issued local language ID Expired photo ID
Alien Registration Card (permanent resident visa, green card, etc) Selfie or photo ID without a name

CIA Syllabus

Part 1

  • Foundations of Internal Auditing (15%)

  • Independence and Objectivity (15%)

  • Proficiency and Due Professional Care (18%)

  • Quality Assurance and Improvement Program (7%)

  • Governance, Risk Management, and Control (35%)

  • Fraud Risks (10%)

Part 2

  • Managing the Internal Audit Activity (20%)

  • Planning the Engagement (20%)

  • Performing the Engagement (40%)

  • Quality Assurance and Improvement Program (7%)

  • Communicating Engagement Results and Monitoring Progress (20%)

Part 3

  • Business Acumen (35%)

  • Information Security (25%)

  • Information Technology (20%)

  • Financial Management (20%)

Pay the CIA Exam Fees:

How much does the CIA exam cost?

CIA Exam Parts CIA Exam Fee
Part-1 CIA Exam Fee $209
Part-2 CIA Exam Fee $173
Part-3 CIA Exam Fee $173
Application Fee $86

Given below is the certification fee structure of the Certified Internal Auditor exam.

Plan your examination:

You will receive an email with an authorization test once IIA has completed your registration for the CIA exam. This email will assist you in scheduling your test with Pearson VUE, a third-party vendor.

At the time the test, you need to:

The last step is to register for the CIA test. On the day of the exam, you will need to present a valid ID. The IIA will cancel your exam registration if you don't show up for the exam on schedule and in person.

CIA Course Advantages:

Below is a summary of the advantages of the CIA course.

1. Higher Income:

One of the most attractive features of the CIA training is the pay scale for a Certified Internal Auditor. The IIA records state that CIAs make an average salary of $38,000 per year. This demonstrates that CIAs earn more than half as much as counterparts who are not certified. When coupled with years of expertise, the CIA certification qualifies you for higher roles like Internal Audit Director or Chief Audit Executive.

2. More Job Opportunities:

Internal auditors may move up the company ranks with the CIA certification. Additionally, entry-level internal accountants can be hired for jobs like these with this certification such as:

  • Compliance auditor

  • Information systems auditor

  • Lead internal auditor

  • Auditing specialist

  • Financial analyst

  • Internal controls auditor

  • Risk assessment specialist

The experienced internal auditors with CIA certification will be up for promotions to higher internal audit supervisor positions like:

  • Internal audit director

  • Senior internal auditor

  • Audit manager

  • Risk manager

  • Chief Financial Officer

  • Finance Director

  • Chief Audit Executive

  • Controller

  • Internal Audit Director

3. Job Security:

In the employment market for accounting and finance, internal auditors are viewed as an in-demand skill. Internal auditing specialists are in greater demand as businesses increase their openness and internal controls. CIAs excel at providing assurance on internal controls, risk management, and corporate governance under a variety of company circumstances. As a result, businesses want to hire and keep CIAs.

4. Enhanced Recognition and Honor

CIAs have advantages like admiration and widespread credibility because they know how to better the industry.

Conclusion:

I hope the information above helps in your understanding of the CIA course's specifics, such as its educational prerequisites, exam structure, and advantages.