IIA-CFSA - IIA Certified Financial Services Auditor

IIA Certified Financial Services Auditor is a certification that’s hold great value for the auditors working in financial industry which mainly comprise of banking institutions, insurance companies, brokerage houses, mutual funds, investments companies, regulatory agencies and security and commodity companies. If a finance professional is planning to grow his career as an auditor and looking forward to maximize his opportunities IIA-CFSA is the right certification for him. It provides an optimum blend of skills and education which will distinguish the professional from his peers. The institute of Internal Auditors (IIA) conducts surveys related to financial services and requirement for emerging qualifications and designs its certifications according to the feedback. As the certification reflects the current market trends and expectations therefore anyone opting for the certification will benefit from it in the long run.

Eligibility Criteria:

In order to gain IIA-CFSA, IIA Certified Financial Services Auditor certification a candidate must meet the eligibility requirements associated with it. According to the eligibility criteria a candidate must possess a 4 year post-secondary degree or higher from a recognized university or college or three years of experience along with two years of post-secondary education. A part from this the candidates are also required to submit a character reference signed from CIA,CGAP,CFSA,CRMA or the candidate’s supervisor. The character reference form can be printed from IIA’s website. The eligibility period for IIA-CFSA, IIA Certified Financial Services Auditor is four years from the date of approval of application.

Course Outline & preparation:

The course outline covers four domains namely Auditing financial services products, Financial Services Auditing, Auditing Financial Services Processes and The Regulatory Environment. The questions and answers of previous exams are not disclosed by IIA therefore in order to prepare for the IIA-CFSA, IIA Certified Financial Services Auditor exam the candidate should refer to the study guide which can be ordered via the bookstore. A part from that several other books and training kits are available which provide study material along with sample questions and answers and practice tests which can prove to be very helpful during exam preparation.

Exam

IIA-CFSA, IIA Certified Financial Services Auditor exam is available in various languages which include English, Chinese, Italian, Portuguese and Spanish. The exam follows computer based testing method which can be attempted at any of the approved locations around the world. IIA CFSA exam consists of 115 exam questions all of them are multiple choice questions. The duration of exam is two hours and fifty-five minutes. The exam weightage is divided in to two parts. 80% of exam questions are based on all three sectors banking, insurance and securities while the remaining 20% is based on the disciple chosen by the candidate.

Conclusion

Once the IIA-CFSA, IIA Certified Financial Services Auditor exam has been passed and all other requirements have been fulfilled a confirmation email is sent to the candidate by IIA. Directions related to how to obtain the certificate and mentioned in that email. A request needs to be raised on the Certificate Candidate Management System after entering all the relevant details. The printed certificate is then dispatched to through mail to the certified professionals.

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