Certified Internal Auditor - A certification awarded by IIA USA (The Institute of Internal Auditors - USA). www.theiia.org

The CIA designation is the only globally accepted certification for internal auditors and remains the standard by which individuals demonstrate their competency and professionalism in the internal auditing field. It has opened up countless doors of opportunity for practitioners around the world as it communicates their ability to serve as a key player in their organization’s success.

The CIA credential can be your master key to professional success, opening doors for career opportunities and earning you increased credibility and respect within the profession and your organization.



To Become a CIA

To participate in CIA. Before applicant can be approved, must prove the eligibility criteria for education, character, work experience, and identification. IIA’s staff Certified documents (proof of education, character reference, and identification).

To enroll in CIA, you need to follow the following steps;
• CIA candidates must hold a 4-year post-secondary degree (or higher) or equivalent from any recognized university
• CIA candidates with a 4 year post-secondary degree must possess minimum of 24 months of internal auditing experience or its equivalent. A Master’s degree can be substitute for 12 of the required 24 months
• Good professional conduct and moral certificate and must submit a Character Reference Form attested by a CIA, CGAP, CCSA, CFSA, CRMA,
• Identification proof required as candidate’s official passport or national identity card
• Effective November 2010, candidates to complete the program certification process within four years of application approval.
• CIAs – 40 CPE Hours per year for practical & 20 CPE Hours per year for Non-Practical.



Course of Study

Part-I Essentials of Internal Auditing

Part-II Practice of Internal Auditing

Part-III Business Knowledge for Internal Auditing



Exam Format

Passing Scale 600 marks out of 750

Part-I Essentials of Internal Auditing
• Time Duration of Exam – 2.5 hours exam
• 125 Multiple Choice Questions

Part-II Practice of Internal Auditing
• Time Duration of Exam - 2 hours exam
• 100 Multiple Choice Questions

Part-III Business Knowledge for Internal Auditing
• Time Duration of Exam - 2 hours exam
• 100 Multiple Choice Questions



Exam & Other Fee Structure

Membership Fee - $100
Application Fee - $100
Exam Fee Part - 1 - $250
Exam Fee Part - 2 & 3 - $200



Exam Windows

Annual digital exam system throughout the year. You can register yourself anytime at your convenience.



Part-I Essentails of Internal Auditing

The CIA exam Part I topics tested include aspects of mandatory guidance; internal control and risk concepts; as well as tools and techniques for conducting internal audit engagements.

• Foundations of Internal Auditing
• Independence, Objectivity, Proficiency, Care & Quality
• Governance
• Risk Management
• Controls:Types & Frameworks
• Controls - Applications
• Frauds Risks & Controls


Course Outline Part-I Essentails of Internal Auditing

Foundations of Internal Auditing
• Applicable Guidance
• Code of Ethical Conduct for Professionals
• Internal Audit Ethics — Introduction and Principles
• Internal Audit Ethics – Integrity
• Internal Audit Ethics — Objectivity
• Internal Audit Ethics – Confidentiality
• Internal Audit Ethics — Competency
• Internal Audit Charter




Independence, Objectivity, Proficiency, Care & Quality
• Independence of the Internal Audit Activity
• Objectivity of Internal Auditors
• Impairment to Independence and Objectivity
• Auditor Proficiency
• Internal Audit Resources
• Due Professional Care and Continuing Professional Development
• Quality Assurance and Improvement Program (QAIP)
• Internal and External Assessments
• Reporting on Quality Assurance

Governance
• Governance Principles
• Roles of Internal Auditors in Governance
• Corporate Social Responsibility (CSR)










Risk Management
• Risk Management Processes
• COSO Framework — Enterprise Risk Management (ERM)
• ISO 31000 Risk Management Framework










Controls : Types & Frameworks
• Overview of Control
• Types of Controls
• Control Frameworks

Controls: Application
• Flowcharts and Process Mapping
• Accounting Cycles and Associated Controls
• Management Controls

Fraud Risks & Controls
• Fraud — Risks and Types
• Fraud — Controls
• Fraud – Investigation



Part-II Practice of Internal Auditing

This Part covers knowledge of Internal audit operations, engagements, internal audit plans and information gathering techniques & analysis.

• Internal Audit Operations
• Assurance & Compliance Engagements
• Financial, Environmental and Consulting Engagements
• The Internal Audit Plan
• Engagement Planning
• Information Gathering
• Sampling & Statistical Quality Control
• Analysis, Evaluation, Documentation & Supervision
• Communicating Results & Monitoring Progress


Course Outline Part-II Practice of Internal Auditing

Internal Audit Operations
• Introduction to Internal Auditing
• Internal Audit Administrative Activities
• Stakeholder Relationships
• Internal Audit Resource Requirements
• Coordination




Assurance & Compliance Engagements
• Assurance Engagements
• Risk and Control Self-Assessment
• Audits of Third Parties and Contract Auditing
• Quality Auditing
• Security and Privacy Audits
• Performance Auditing
• Operational Auditing
• Compliance Auditing

Financial, Environmental, and Consulting Engagements
• Financial Engagements
• Environmental Engagements
• Consulting Engagements – Overview
• Consulting Engagements – Internal Auditor
• Consulting Engagements – Benchmarking
• Consulting Engagements – Other Types

The Internal Audit Plan
• Risk-Based Audit Plan
• Risk Modeling
• Communicating and Reporting to Senior Management and the Board







Engagement Planning
• Engagement Planning and Risk Assessment
• Engagement Objectives, Scope, and Criteria
• Engagement Staff and Resources
• Engagement Procedures
• Engagement Work Program




Information Gathering
• The Four Qualities of Information
• Sources and Nature of Information
• Questionnaires
• Interviewing
• Other Information-Gathering Methods





Sampling & Statistical Quality Control
• Statistical Concepts
• Sampling Concepts
• Attribute Sampling
• Variables Sampling
• Statistical Quality Control





Analysis, Evaluation, Documentation & Supervision
• Computerized Audit Tools
• Analytical Approaches and Process Mapping
• Analytical Review Techniques
• Workpapers — Purpose and Characteristics
• Workpapers — Review, Control, and Retention
• Drawing Conclusions
• Supervision

Communicating Results & Monitoring Progress
• Communication with Clients
• Observations and Recommendations
• Communicating Engagement Results
• Communication Qualities and Overall Opinions
• Exit Conference and Management’s Response
• Approve and Distribute Reports
• Monitor Engagement Outcomes



Part-III Business Knowledge for Internal Auditing

This Part covers is a mixture of Business processes, financial accounting, cost & management accounting and IT related topics. The knowledge of basic financial decision making techniques and in-depth knowledge of these tools will help in understanding and making good business decisions. After getting this knowledge, you will be able to take part in Financial Decision Making in your organization which help in improving the overall efficiency of the organization.

• Strategic Management & Planning
• Organizational Behaviour & Performance Measures
• Leadership, Organizational Structure, and Business Processes
• Project Management and Contracts
• Workstations, Databases, and Applications
• IT Infrastructure
• IT Framework and Data Analytics
• Information Security and Disaster Recovery
• Concepts and Underlying Principles of Financial Accounting
• Advanced Financial Accounting Concepts and Analysis
• Current Assets Management
• Capital Structure and Budget, Basic Taxation, and Transfer Pricing
• Managerial Accounting: General Concepts
• Managerial Accounting: Costing Systems and Decision Making


Course Outline Part-III Business Knowledge for Internal Auditing)


Strategic Management and Planning
• Strategic Management and Planning
• Globalization











Organizational Behavior and Performance Measures
• Organizational Theory
• Motivation — Need-Based Theories and Rewards
• Motivation — Process-Based Theories, Behavior, Job Design, and Other
• Organizational Politics and Group Dynamics
• Performance Measures
• Performance Measures — Costs of Quality
• Performance Measures — Balanced Scorecard

Leadership, Organizational Structure, and Business Processes
• Leadership
• Organizational Structure
• Business Process — Human Resources and Outsourcing
• Business Process — Pricing and the Supply Chain
• Business Process – Procurement






Project Management and Contracts
• Project Management – Concepts
• Project Management – Techniques
• Change Management
• Contracts
• Classification of Contracts









Workstations, Databases, and Applications
• Workstations and Databases
• Application Development and Maintenance





IT Infrastructure
• Functional Areas of IT Operations
• Web Infrastructure
• IT System Communications and Software Licensing
• Systems that Support Routine Processes



IT Framework and Data Analytics
• IT Control Frameworks and International Organization for Standardization (ISO) Framework
• Aspects of Automated Information Processing
• IT Controls
• Data Analytics


Information Security and Disaster Recovery
• Information Security and Cybersecurity Related Policies and Controls
• Authentication, Authorization, and Encryption
• Information Protection
• Contingency Planning and Disaster Recovery

Concepts and Underlying Principles of Financial Accounting
• Concepts of Financial Accounting
• Financial Statements
• The Accrual Basis of Accounting
• The Accounting Process
• Cash, Accounts Receivable, and Inventory
• Property, Plant, and Equipment and Intangible Assets
• Accounts Payable, Accrued Expenses, and Deposits and Other Advances
• The Time Value of Money • Bonds • Pensions • Leases and Contingencies




Advanced Financial Accounting Concepts and Analysis
• Risk and Return
• Derivatives
• Foreign Currency Transactions
• Business Combinations and Consolidated Financial Statements
• Corporate Equity Accounts and Partnerships
• Financial Statement Analysis — Liquidity Ratios
• Financial Statement Analysis — Activity Ratios
• Financial Statement Analysis — Solvency Ratios and Leverage
• Financial Statement Analysis — ROI and Profitability
• Financial Statement Analysis — Corporate Valuation and Common-Size Financial Statements Ratios

Current Assets Management
• Working Capital and Cash Management
• Receivables Management
• Managing Inventory Costs and Quantities
• Inventory Management Methods
• Inventory Systems












Capital Structure and Budget, Basic Taxation, and Transfer Pricing
• Corporate Capital Structure — Debt Financing
• Corporate Capital Structure — Equity Financing
• Managing Inventory Costs and Quantities
• Corporate Capital Structure — Cost of Capital
• Capital Budgeting
• Short-Term Financing
• Methods of Taxation
• Transfer Pricing






Managerial Accounting: General Concepts
• Cost Management Terminology
• Budget Systems
• Budget Methods
• Cost-Volume-Profit (CVP) Analysis and Cost-Benefit Analysis
• Responsibility Accounting






Managerial Accounting: Costing Systems and Decision Making
• Cost Behavior and Relevant Range
• Activity-Based Costing
• Process Costing
• Absorption (Full) vs. Variable (Direct) Costing
• Relevant Costs and Decision Making





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