The CIA designation is used all over the world across all business sectors and industries to indicate that an auditor possesses the competence, skills, and experience to perform auditing procedures, review and analyze financial statements, and work with company management to ensure that proper internal controls are put in place to safeguard assets.
- An Associate's degree or higher equivalent is required to be approved into the CIA program. Programs last 24 weeks.
Within its 3 parts, the CIA exam concentrates on a wide range of internal auditing concepts. Furthermore, each exam part dedicates a specific percentage of coverage to certain content areas. The CIA exam part content areas and coverage percentages are:
- 1. Essentials of Internal Auditing
- 2. Practice of Internal Auditing
- 3. Business Knowledge for Internal Auditing
A CIA has a wide choice range in career paths in commercial entities. The ability to apply techniques and methods to understand relevant risks to specific companies and industries and the ability to develop a relevant audit plan gives an auditor the flexibility in selecting companies to join.
Both in the assurance and advisory divisions of public accounting firms CIAs create impact. Due to the extensive understanding of internal control systems and in-depth knowledge of risk management, assurance roles in the public sector provides CIAs the edge in performing a risk-based audit that is efficient and effective. On the other hand, the said competency in internal controls and risk management are also of great value in advisory divisions of public accounting firms due to CIA’s understanding of what management’s objectives are.
Continuing Education Information
The internal audit profession is a very young profession. And, as systems and organizations continue to improve and face of bigger risks, the more development is expected. The IIA’s CIA program is a response to the internal audit community’s problems in the past.
Whether you are planning on starting a career in audit or have been practicing internal audit for quite some time now, CIA certification is something that a person aiming for a rewarding and exciting career growth in audit needs to thoughtfully consider.