How to Become a Certified Internal Auditor in 6 Steps

If you’re searching for information on how to become a Certified Internal Auditor on the Internet, I have answers. In short, you’ll need a degree, auditing experience, and the help of a CIA certification program to pass the CIA exam.

But which one should you choose?

Spoiler alert: It’s not the one created by the IIA’s certification department.

In this six-step guide, I will walk you through the entire process, from meeting the initial qualifications to preparing for the CIA exams and everything in between.

Key Takeaways

1. Eligibility Requirements: To qualify for the CIA program, you need a bachelor’s degree or higher or significant internal auditing experience. Having a master’s degree can reduce the required professional experience.
2. Registration and Preparation: Register for the CIA exam through the IIA’s website, submitting necessary documentation like transcripts and a character reference form. To prepare effectively, invest in top-quality review courses like Surgent CIA Review and Gleim CIA Review.
3. Exam Scheduling and Testing: Schedule the CIA exam at IIA-designated testing centers. The exam is divided into three parts, each focusing on different aspects of internal auditing. Extensive preparation is crucial for success.
4. Continuing Professional Education: After certification, maintain your CIA status by completing annual Continuing Professional Education (CPE) hours. Active CIAs need 40 hours annually, while non-practicing CIAs require 20 hours.

Step 1: Be Sure You Want to Do This

Becoming a Certified Internal Auditor is quite the commitment—it’s tough, but many find it ultimately rewarding. According to folks who’ve been through it, you’ll face three tough exams, each requiring plenty of study time. So, if you’re thinking about going for it, be ready to hit the books hard!

As one experienced auditor highlighted in this thread on the CIA designation, “To complete it all, it took me 1.5 years with breaks in between.”

Going for a CIA designation makes a lot of sense if it’s highly respected in your field and you’re ready to put in the study time. It’s especially worth it if you see yourself in auditing for the long haul, aiming for the higher rungs of the career ladder, like senior or management positions. As someone seasoned in the industry advised, it’s a solid investment “if you plan on staying in audit for at least 5-6 years… aiming for senior/experts or management types of positions.”

Also, if you’re looking at internal auditing as your forever gig, getting certified as a CIA can really boost your standing in the field. Another pro in the field shared that “if IA [Internal Auditing] is something you foresee as your long-term career, getting CIA will definitely seal the deal since CIA is the only globally recognized certification for internal auditors.”

Step 2: Understand the Core Responsibilities

As a Certified Internal Auditor, you’ll spend a lot of time doing the following:

• Evaluating Internal Controls: Ensure that the company’s internal controls are robust and effective in mitigating risks.
• Risk Management: Analyze and assess an organization’s financial, operational, and technological risks.
• Governance Processes: Oversee and improve governance processes to enhance organizational accountability.

Diverse Opportunities

Internal audit professionals who earn a CIA designation find doors opening in a variety of ways. Here’s how:

• Diverse Industries: CIAs work across numerous sectors, allowing them to specialize in areas like healthcare, finance, manufacturing, or government.
• Strategic Influence: Internal auditors frequently assume advisory roles, influencing top management and helping shape strategic decisions.
• Global Opportunities: With a CIA designation, professionals gain worldwide recognition, which opens up opportunities for international careers and assignments.

Continuous Learning and Growth

Internal audit practice is not just about passing exams; it’s also about embracing opportunities for continuous learning and growth. Here’s what this entails:

• Professional Development: Engaging in required Continuing Professional Education (CPE) credits ensures that CIAs remain aware of industry changes and best practices.
• Leadership Opportunities: Achieving senior positions in internal auditing opens doors to leading departments, mentoring teams, and driving substantial business improvements.

Understanding these roles and benefits will help confirm if pursuing a CIA designation aligns with your career ambitions.

Step 3: Meet the Eligibility Requirements

To qualify for the CIA program, candidates must meet one of the following criteria:

• Possess a Bachelor’s degree or higher
• Hold an active Internal Audit Practitioner designation
• Have five years of internal audit experience
• Be a student in the final year of college
• Be enrolled as an active student at an approved Internal Audit Education Partnership (IAEP) school

Education Specifics

A bachelor’s degree from an accredited university is typically required to enter the CIA program. However, the Institute of Internal Auditors does provide exceptions for those with an associate’s degree or relevant professional experience. Additionally, holding a master’s degree can reduce some of the professional experience requirements, making it easier to qualify for the certification program.

Experience Specifics

Depending on your level of education, you may need to have a minimum of 1 to 5 years of internal audit experience. I know many CIAs personally who started with a high school diploma, worked up to a Bachelors, and then became a CIA through experience.

• Master’s Degree (or equivalent): Candidates with a master’s degree need to complete one year of internal audit experience or an equivalent role.
• Bachelor’s Degree (or equivalent): Those with a bachelor’s degree are required to have two years of internal audit experience or its equivalent.
• Active Internal Audit Practitioner Designation Holder: Individuals holding this designation must have five years of internal audit experience or equivalent.
• Experience Only: Candidates who do not hold a degree but have substantial professional experience need five years of internal audit experience or an equivalent position.

This structured approach ensures that all candidates entering the CIA program are adequately prepared with the necessary practical skills to succeed.

Step 4: Register with the IIA and Prepare for the CIA Exam

Once you meet the eligibility requirements, the next steps involve:

Registration

To begin your journey towards CIA certification, first ensure you meet all eligibility requirements. Then, register for the CIA program via the Institute of Internal Auditors (IIA) website. During the registration process, you will need to submit various documents to verify your eligibility:

• Transcripts: Provide official transcripts from accredited institutions to confirm your educational qualifications.
• Character Reference Form: You may be required to submit a character reference form, completed by a practicing CIA, your supervisor, or an IIA member, which validates your professional conduct and suitability for the certification.

The registration process for many professional certification exams also involves paying the necessary fees. This is true for those wanting to become a Certified Public Accountant and Chartered Certified Accountant as well. Fees for the CIA exam vary depending on your IIA membership status and your geographical location. Ensure all CIA program registration information is accurate and complete to avoid delays in your application approval.

Exam Preparation

The Certified Internal Auditor exam is divided into three different parts, covering essential aspects of internal auditing. Many candidates choose to invest in study guides and preparatory courses to prepare for these exams adequately.

When preparing for the CIA exam, which is split into three detailed parts covering the essentials of internal auditing, choosing the right study materials can make a significant difference. Many candidates benefit from investing in the best CIA review course. Among the best options available are Surgent CIA Review and Gleim CIA Review.

Step 5: Schedule and Pass the CIA Exam

Exam Scheduling

Once your application for the CIA program is approved, you can proceed to schedule your exam. This is done through the Institute of Internal Auditors’ (IIA) designated testing centers, which are located worldwide. You have the flexibility to choose a date and location that best fits your schedule. It’s advisable to book your testing appointments well in advance to secure your preferred timing.

Testing

The CIA exam is split into three parts, each focusing on different key areas of internal auditing:

1. Part 1: Essentials of Internal Auditing — This section tests your knowledge of the foundations of internal auditing, including the IIA’s International Standards for the Professional Practice of Internal Auditing.
2. Part 2: Practice of Internal Auditing — Focuses on the application of internal auditing practices and covers topics such as conducting risk-based audits and performing specific audit engagements.
3. Part 3: Business Knowledge for Internal Auditing — Examine your understanding of business concepts relevant to internal auditing, including financial management, information technology, and business processes.

Each part of the exam generally requires between two to three hours to complete, depending on the complexity and the number of questions. The exams are comprehensive, testing your knowledge and application of topics like risk management, internal control, and information technology through a variety of question formats, including multiple-choice and scenario-based questions. It’s important to come well-prepared, having thoroughly reviewed the relevant study materials and practicing with sample exam questions to ensure your best performance.

Step 6: Commit to Continuing Professional Education

After obtaining your CIA certification, you must continue learning through Continuing Professional Education to maintain your certification and stay current in the field. The number of CPE hours required each year depends on whether you are actively practicing:

• Active CIAs: If you are actively practicing, you are required to complete 40 CPE hours annually. If you hold any specialty certifications, an additional 20 hours are required, and for those with a QIAL certification, another 20 hours are necessary.
• Non-Practicing CIAs: For CIAs who are not actively practicing, the requirement is 20 CPE hours annually. Holders of specialty certifications need to complete ten additional hours, and those with a QIAL certification also require 10 hours.
• Retired CIAs: Not required.

These requirements ensure that all certified professionals, regardless of their practicing status, remain knowledgeable and effective in the dynamic field of internal auditing.

Final Thoughts

Achieving the CIA designation is a testament to your commitment and expertise in the field of internal auditing. It not only enhances your professional stature but also opens up numerous opportunities for CIA career advancement. Whether you’re dissecting complex business processes or safeguarding corporate integrity, your role as a CIA will be pivotal in steering your organization toward success.

Now, armed with these steps and a solid grasp of what it takes, you’re well on your way to joining the ranks of certified internal auditors globally. Let this journey of professional growth and continuous learning begin!

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