CIA (Certified Internal Auditor)

Certified Internal Auditor

Certified Internal Auditor (CIA) Exam Preparation What is CIA®?

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. Moreover, earning the CIA® designation is more than just proof of what you know and what you’ve achieved — it’s the best way for auditing professionals to communicate to the world that they are prepared to meet today’s challenges. Candidates leave the program enriched with educational experience, information, and business tools that can be applied immediately in any organization or business environment.

The CIA® exam is offered in the following languages: Arabic, Bulgarian, Chinese (unsimplified), Czech, English, French, German, Hebrew, Hungarian, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Turkish, and Thai (available only in Thailand).

members with global headquarters in Altamonte Springs, Fla., United States. Throughout the world, The IIA is recognized as the internal audit profession’s leader in certification, education, research, and technical guidance.

For more information, please visit: www.theiia.org Advantages of Being a CIA • Acquire the professional ability to efficiently control, identify risks, and examine remedies with respect to current practice of internal auditing • Understand 21st century management principles • Have the prospect to practice globally in the field of internal auditing • Standout among others competing for the same job • Access to more opportunities and higher paying jobs • Attain personal satisfaction given a recognized & prestigious measure of competency

About the IIA

• Facilitate auditors’ transition to top management positions

Established in 1941, The Institute of Internal Auditors (IIA) is an international professional association of more than 170,000

• Lay a foundation for continued improvement & advancement

Internal Auditing Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

• Demonstrate proficiency and professionalism

ed for and safeguarded from loss or damage • Evaluate the reliability of management data generated within the organization • Measure the effectiveness of company performance • Review the economical and efficient use of resources

Main Functions of a CIA

• Furnish top management with analysis, appraisals, information, counsel & recommendations concerning the activities reviewed

• Evaluate the effectiveness of financial and operating controls

• Establish operational goals and objectives

• Guarantee the reliability & integrity of financial & operational information

• Cover financial activities and operations including:

• Test for compliance with company plans, policies, & procedures • Determine the extent to which company assets are account-

1. Systems 3. Production 5. Engineering

2. Marketing 4. Human resources

Career Opportunities

Who needs CIA certification/course?

Currently firms seeking internal auditors are increasingly identifying the CIA® designation as the desired professional credential and as evidence of professional competence.

Earning the CIA designation is an important accomplishment and professional advantage for Internal auditors during all stages of their careers including:

These firms include but are not limited to sectors such as:

• • • • •

1. Banks 3. Big Four 5. International firms

2. Government 4. Universities 6. Financial corporations

Chief audit executives Audit directors Audit managers and staff Risk management staff Business, finance, and accounting students

Expand your internal audit knowledge and prepare for the Certified Internal Auditor® (CIA®) exam.

If you are interested in earning the most sought-after credential in the global internal audit profession, then you need the best exam preparation course available. Zabeel is now offering a comprehensive four-part CIA review course based on the new, premier quality Institute of Internal Auditors (IIA) CIA Learning System™.

Distinguish Yourself… Become a Certified Internal Auditor.

The CIA is the only globally accepted designation for internal auditors. It is the standard by which internal audit professionals demonstrate their knowledge and competence in the areas of governance, risk, and control.

Get Prepared There is no better way to prepare for the CIA exam than with Zabeel’s CIA. This course combines expert classroom instruction with The IIA CIA Learning System print and online study components.

Why Should I Enroll in CIA? • Increase your knowledge and skills in the areas of governance, risk, and controls.

• Stay on track to complete your studies.

• Network with peers and discuss difficult topics with an expert instructor.

• Take advantage of corporate tuition assistance programs.

• Enjoy comprehensive study materials with The IIA CIA Learning System (included in Tuition).

Certified Internal Auditor.

Part I Internal Audit Basics Part II Internal Audit Practice Part III Internal Audit Knowledge Elements This program teaches the entire CIA syllabus including: Part 1 Exam: Internal Auditing Basics Duration: 2.5 hours Question Count: 125 Topical focus areas include: • IIA Mandatory Guidance • Internal Control and Risk • Tools & Techniques for Conducting the Audit Engagement Part 2 Exam: Internal Audit Practice Duration: 2 hours Question Count: 100 Topical focus areas include: • Managing the Internal Audit Function • Managing Individual Engagements • Fraud Risks and Controls Part 3 Exam: Internal Audit Knowledge Elements Duration: 2 hours Question Count: 100 Topical focus areas include: • Organizational Structure and Business Processes • Governance • Risk Management • Communication • Leadership • IT/Business Continuity • Financial Management • Global Business Environment

Eligibility requirements for the CIA exam: Education: • Bachelor Degree in any field from an Accredited Institution Or • Full Time Under Graduate Students in their Senior Year Or • Holders of professional certification from some foreign countries such as: CPA’s, CA’s etc…

Experience: 2 years internal Auditing experience or equivalent I want to attain the CIA certification, but I don' t have the two year' s internal auditing work experience. Can I still sit for the exam?

Part 1: Internal Audit Basics Number of Questions 125 2.5 Hour

Yes, you can sit for the exam prior to satisfying your experience requirement. However, you will not be certified until your work experience, and all other requirements, have been met.

Content and Format The Certified Internal Auditor® (CIA®) exam tests a candidate’s knowledge of current internal auditing practices and understanding of internal audit issues, risks and remedies.

The CIA® exam is offered in three parts, as follows:

Part 2: Internal Audit Practice Number of Questions 125 2.5 Hour

Part 3: Internal Audit Knowledge Elements Number of Questions 100 2 Hour

The CIA® exam is available through computer-based testing (CBT), allowing you to test year-round at more than 500 locations worldwide.

Covering materials and concentration: Part 1: Internal Audit Basics Mandatory Guidance (35-45%) Internal Control / Risk (25-35%) – Awareness Level (A) Conducting Internal Audit Engagements – Audit Tools and Techniques (28-38%) Part 2 – Internal Audit Practice Managing the Internal Audit Function (40-50%) Managing Individual Engagements (40-50%) Fraud Risks and Controls (5-15%) Part 3 – Internal Audit Knowledge Elements Governance / Business Ethics (5-15%) Risk Management (10-20%)- Proficiency Level (P) Organizational Structure/Business Processes and Risks (15-25%) Communication (5-10%)

Management / Leadership Principles (10-20%) IT / Business Continuity (15-25%) Financial Management (13-23%) Global Business Environment (0–10%) For detailed topic outlines, visit www.theiia.org/certification.

Exam topics and/or format are subject to change as approved by the Board of Regents.

Testing Skills The three part exam is designed to: 1. Test the candidates’ nearly all management skills 2. Focus on the principles of management control 3. Measure the candidates’ understanding of risk management and internal controls 4. Test their ability to clearly and concisely communicate conclusions 5. Measure technical competence and academic preparation of the candidates 6. Test candidates’ judgment and logic

Grading Scale and Results • All raw scores are converted onto a reporting scale of 250 to 750 points. A scaled score of 600 points or higher is required to pass the CIA® exam (equivalent to 80%)

• Upon exiting the testing room, you will receive a printout of your unofficial exam results.

• Official scores will be published by the IIA within few days on the IIA Certification Candidate Management System.

• Your score is based on the number of scored questions that you answer correctly. Each scored question contributes equally to your final test score (some non-scored questions are included on each exam for the purpose of determining the difficulty of these items only; they do not contribute to your exam scores). There is no penalty for incorrect responses, so it is to your advantage to attempt to respond to every question in the exam.

• If you fail any one of the CIA®exam parts, you must wait at least 90 days before you will be able to retake that exam part.

• The certification program’s eligibility requires candidates to complete the program certification process within four years of application approval. If a candidate has not completed the certification process within four years, all fees and exam parts will be forfeited

Candidates in the CIA® program agree to keep the contents of the CIA® exam confidential and therefore may not discuss the specific exam content with anyone except The IIA’s Certification Department. Unauthorized disclosure of exam material will be considered a breach of the Code of Ethics and could result in disqualification of the candidate or other appropriate censure.

Schedule and Fees

Testing Centers. The Pearson VUE network increases the availability of the exam from approximately 250 exam sites to over 400 exam sites.

The CIA® examination is available year-round and will be administered through the worldwide network of Pearson VUE

• Keep in mind that when you register for an exam, you must sit for it within 180 days.

• There is no limit to the number of times a candidate can retake a failed exam.

Non-disclosed Exam

CIA® Exam

IIA Members

Non Members

Student & Professors

Application Fee

US $75

US $100

US $50

CIA Exam 1 Part Fee (4 Parts exam)

US $150

US $200

US $105

CIA Exam Part 1 only Fee (3 Parts exam)

US $250

US $300

US $205

CIA Exam Part 2/Part 3 only Fee (3 Parts exam)

US $200

US $250

US $155

Exam Part Re-scheduling Fee

US $50

US $50

US $50

CPE Reporting Fee

US $0

US $100

US $N/A

CIA Candidate Transition Plan In recognition of the varying lengths of time spent by candidates earning their CIAs and the level of exam rigor, The IIA has developed the transition plan below to assist candidates who

are in the process of earning their CIA at the time of the new exam structure’s implementation. The table communicates the equivalency of items completed in the previous four-part structure and their relation to the new three-part exam.

Candidates who have completed:

Will receive credit under the new structure for:

Additional requirements for receiving identified credit:

Application

Application

None

Part 1

Part 1

None

Part 2

Part 2

None

Part 3 (without Part 4)

Part 3

Within six months of the new structure implementation, you must complete one of the following items: • Pass Part 4 of the previous exam • Apply and receive PRC 4 Credit through the previous exam process • Apply for and receive Professional Experience Recognition (PER) Candidates who do not complete one of these three options within the six-month transition window will be required to take the new Part 3 exam

Part 4 (without Part 3)

No credit given

Must complete new Part 3

Both Part 3 and Part 4

Part 3

None

Experience Form

Experience Form

None

Character Reference

Character Reference

None

Education Verification

Education Verification

None

The new exam content and format will be as rigorous and complex as the current exam. Candidates currently in the process of earning their CIAs are encouraged to continue their path toward certification in the current exam format. Doing so will ensure that any adjustments to the implementation schedule will not affect their ability to earn the only globally recognized internal audit credential in a reasonable time frame.

Understanding your Results

What Are The Exam Dates?

Reporting scale ranges from 250 to 750 points. A score of 600 or higher on this scale is required to pass an IIA exam.

Candidates can sit for exams every month subject to the conditions.

Retaking Failed Exams

Where to Give Exam?

If you fail any one of the CIA exams (parts) or one of the specialty exams, you must wait at least 90 days before you will be able to retake that exam (part).

Exams are administered through the worldwide network of Pearson VUE Testing Centers and are available in accordance with local customs. To locate a Testing Center and to schedule exam appointments, visit www.pearsonvue.com

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