Certified Internal Auditor Requirements
The Certified Internal Auditor (CIA) designation is awarded to those who successfully pass the CIA exam and can demonstrate proficiency, knowledge and experience in their field. Candidates who obtain the CIA designation can apply their skills and knowledge in any business environment, and have the opportunity to advance in their careers.
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Significance
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Candidates interested in becoming Certified Internal Auditors (CIAs) can earn the designation by successfully passing the CIA exam administered by the Institute of Internal Auditors. Students may take a variety of courses in order to prepare for the examination, and these specialized courses are offered at select colleges and universities around the country. Only individuals who meet certain requirements are eligible to take the exam and obtain the CIA designation.
Function
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The Institute of Internal Auditors has developed a set of program eligibility criteria and requirements for those how wish to earn the CIA designation. Candidates must have a bachelor's degree or equivalent from an accredited educational institution, and preferably one that is in the financial sector. All individuals must be enrolled full-time as a senior in an undergraduate program at an accredited college or university, or be enrolled as a graduate student. They must be able to provide a completed character reference form as part of the registration process, and have completed at least 24 months of internal auditing experience or its equivalent in a workplace setting. Prospective CIAs must also agree to abide by the Code of Ethics and maintain their skills and knowledge by completing 80 hours of Continuing Professional Education (CPE) every two years.
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Features
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In order to become a Certified Internal Auditor, a candidate must be skilled and knowledgeable in four core areas: internal audit activity's role in governance, risk and control; conducting an internal audit engagement; business analysis and information technology; business management skills. Courses in each of these fields as part of the CIA Learning System curriculum and available through the division or department of continuing education at select schools around the country.
Considerations
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Individuals who are already working in the financial sector or those who have a strong background in the financial services industry may already have the basic knowledge and skills needed to be successful in the field of internal auditing. Certified internal auditor requirements are flexible in some areas; for one year professional work experience requirement, a master's degree or related work experience may serve as a substitute for formal experience.
Benefits
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Becoming a Certified Internal Auditor may increase employment opportunities and allow the individual to take on leadership and managerial roles throughout their career. Since CIAs are required to maintain certification by completing continuing professional education requirements every two years, they will be able to stay up to date on the latest trends, new rules and regulations pertaining to the industry and provide superior services for companies or parties for whom they work.
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