The Institute of Internal Auditors of the United States of America, a professional body of Internal Auditors in the United States, administers the Certified Internal Auditing (CIA) programme, which is governed by IIA in India. You can move up the company auditing hierarchy by earning the Certified Internal Auditor (CIA) certification. The Certified Internal Auditor certificate has become a globally recognised credential as a result of the rising demand for Internal Auditor profiles.
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Why Study CIA ?
CIA Stands for Certified Internal Auditing and is administrated by the Institute of Internal Auditors of the United States of America, is a professional association of Internal Auditors in the United States and the program is overseen by IIA in India.
Obtaining the Certified Internal Auditor (CIA) certification allows you to advance up the corporate auditing hierarchy. Because of the growing need for Internal Auditor profiles worldwide, the Certified Internal Auditor certificate has become a worldwide recognized credential.
Certified Internal Auditing (CIA) courses, often known as Job-guarantee courses, are aimed at students and professionals who want to work in accounting, finance, or taxation once they finish the course.
Become a member of a global network of auditors (the IIA)
Job opportunities across the world.
Higher Income : One of the most enticing elements of the Certified Internal Auditor certification is the compensation. You won't have to settle for financial security as a CIA agent. Instead, you may reap the benefits of financial success.
Improve your skills and abilities.
Boost your confidence and gain respect.
There are no testing windows or blackout periods for the CIA exam; applicants can take it at any time of year.
Scope in the sector of accounting, finance, or taxation.
When people see the initials "CIA" on your CV, they'll know you're serious about your career and prepared to invest in your own development. They'll value you over your colleagues for these reasons.
The worldwide regulatory market is becoming increasingly complicated. As a result, the internal auditor's function changes from financial audits and to risk-based auditing. As a result of these developments, the world is realising internal auditors' need to protect and strengthen an organization's value.
CIA Exam Curriculum
Part 1 of the CIA exam includes six domains:
Part 1 assesses candidates understanding, skills, and abilities in relation to the International Standards for the Professional Practice of Internal Auditing, namely the Attribute Standards and performance standards.
Part 2 of the CIA exam covers four domains:
Part 2 assesses applicants knowledge, skills, and abilities, focusing on Performance Standards and current internal auditing procedures.
Part 3 of the CIA exam covers four domains:
Part 3 is intended to assess applicants knowledge, skills, and capacities in relation to these fundamental business principles.
CIA Exam Eligibility Criteria in India – To earn CIA Credentials
Candidates with a master degree must have 12 months of work experience in internal auditing or equivalent.
Candidates with Bachelor’s degree must have 24 months of work experience in internal auditing or equivalent.
Candidates with an associated degree or 3 A-level certificates with a grade of C or higher, the Higher national diploma must have 60 months work experience in internal auditing or equivalent.
CIA Exam Pattern & Passing Criteria
CIA certification mainly includes 3 parts of the exam.
Exam Pattern : MCQ’s
Passing Exam score for all : 75%
Scaled Passing Score : 600
NOTE : The IIA's Professional Certification Board(PCB) may accept changes to exam content and/or structure.
Part 1: Essentials of Internal Auditing
Total no. of questions : 125 MCQ's
Duration : 2.5 hours
Part 2 : Practice of Internal Auditing
Total no. of questions : 100 MCQ's
Duration : 2 hours
Part 3 : Business knowledge for internal auditing
Total no. of questions : 100 MCQ's
Duration : 2 hours
CIA Exam Registration Procedure
Log in to the Certification Candidate Management System (CCMS) or create a profile. Before registering for the CIA Challenge Exam, make sure your IIA membership is listed on the CCMS portal.
“Apply for Certified Internal Auditor” should be selected.
Choose "Accounting body challenge exam" from the drop-down menu.
After the payment page, you must attach a certificate from a qualified accounting body and/or a screenshot of the public registry indicating that your designation is still active, as well as a government-issued photo ID.
The electronic character reference must also be completed. You can register and schedule your examination once you've been accepted into the program. The application will be reviewed once all documents have been uploaded and the character reference has been approved. After supporting documents are received, approval may take up to 7 calendar days.
To register and schedule your exam, go to "Manage My Program," then "Examinations," then "Register."
Fees of CIA Exam in India
CIA Exam Schedule
Application Window : August - September 2021
Exam Scheduled Month : January, April, June, July, November
CIA Exam Centers in India
Compare CIA vs Indian CMA vs US CPA vs CIMA UK vs CA vs MBA
CIA Salary in India
CIAs, as you may know, are a subset of the accounting profession. Internal auditors analyse and develop procedures, whereas accountants generally direct the movement of money within a business. Internal auditors also ensure that funds are not misappropriated in any way.
As an internal auditor, your salary will be determined by your level of experience. Junior auditors, senior auditors, and audit managers typically earn different amounts of money.
A regular internal auditor's salary range is $52,352-$63,437, according to Salary.com. And CIA pay raises aren't just for Americans. Even in India, the average CIA salary is Rs 378,479 more than the average internal auditor salary.
In the United States, the average pay for a CIA is $64,000, comparable to $62,000 for a CPA.
CIA Job Roles & Responsibilities
Internal auditors operate effectively as accountants, analysing and appraising an organization's financials and accounting processes. Internal auditors are in charge of making suggestions to management on enhancing accounting and decreasing financial risk.
Internal auditors must be critical thinkers who are passionate about enhancing an organization's internal control system in order to succeed. Top applicants will excel at giving presentations and producing reports, as well as demonstrating exceptional business experience.
Information systems auditor
Risk assessment specialist
Corporate Financial Analyst
Internal controls auditor
Internal audit director
Lead internal auditor
CIA Corporate career and BIG 4's
Learning CIA @ iProledge
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