Certifications for Internal Auditors
This globally recognized certification issued by the IIA covers the internal audit profession, engagements, and function
What is a CIA (Certified Internal Auditor)?
The CIA exam is traditionally taken in this many parts
What is three?
Internal audit is this line line in the three lines model of assurance
What is the third line?
Internal audit engagements require different levels of financial, technology, and this other important resource
What are human resources?
In response to a risk, management can choose to either avoid, pursue, reduce, share, or take this action
What is accept?
This globally recognized certification covers financial accounting, tax, and auditing and will make anyone you meet ask if you can do their taxes
What is Certified Public Accountant (CPA)
For this reason, those interested in pursuing a career in internal auditing should become a CIA
What is it sets you apart/looks good on a resume?
What is it prepares you well for a career in internal auditing?
What is it's globally recognized?
What is you can earn a higher salary?
What is it makes you more credible and respected?
To maintain independence, the Chief Audit Executive (CAE) should report functionally to this governing body
What is the board of directors (or audit committee)?
These are potential events or problems that could prevent an organization from achieving its objectives
What are risks?
The portion of inherent risk that remains after management actions are implemented
What is residual risk?
This globally recognized certification covers preventing, detecting and investigating fraud
What is a Certified Fraud Examiner (CFE)?
The CIA Exam Review course provided by this well-known test preparation organization (that also provides a review course for the CPA exam) is offered at a discount for members of the IIA
What is Becker?
This internal audit function asks “Are the controls working?” and communicates conclusions on governance, risk, and controls to stakeholders
What is assurance?
This defines the boundaries of an audit, including what processes, activities, or time periods will be reviewed
What is engagement scope?
Engaged to provide assurance for financial statement attestation, these CPA holders can provide professional and organizational benefits when their activities are coordinated with the internal audit function
Who are external assurance providers (auditors)?
The first part of the CIA exam, this certification is designed for students and entry-level professionals to gain credibility
What is Internal Audit Practitioner (IAP)?
The CIA challenge exam is an option to take just one exam that removes duplicate topics for internal auditors who already hold this common certification for accounting professionals
What is a CPA?
This internal audit function asks “How can we improve?” and provides recommendations
What is advisory?
This analytic workflow is similar to flowcharting and process narratives
What is process mapping?
The responsibility to communicate results of internal audit services to the board and senior management falls on this member of the internal audit function
Who is the Chief Audit Executive (CAE)?
This certification issued by the IIA covers in-depth organizational knowledge and skillsets required to provide effective risk management assurance to audit committees and executive management
What is the Certification in Risk Management Assurance (CRMA)
To be eligible to become a CIA, those holding a Bachelor’s degree need 2 years of this; those holding a Master’s degree need 1 year of this
What is internal audit experience?
This formal document, approved by the board, establishes the internal audit function’s purpose, authority, and responsibilities
What is the internal audit charter?
This audit technique involves watching employees perform their daily tasks to understand how a process works
What is observation?
The population of subsidiaries, business units, departments, groups, processes, or other established subdivisions of an organization that exist to manage one or more business risks
What is the audit universe?