Accelerate You Internal Audit Career By Attempting IIA-CIA-Part2

IIA-CIA-Part2, Internal Audit Practice is the second exam in row leading towards the certified internal auditor qualification. Institute of Internal Auditors launched this program of certified internal auditor in 1973. Candidates enrolling in this program enrich themselves with relevant knowledge and educational experience which will lead to an organization’s success. It opens numerous doors of opportunities for professionals who possess sound knowledge of key concepts of IIA-CIA-Part2, Internal Audit Practice thus increasing the credibility of a business professional.

Eligibility Criteria:

Each candidate planning to opt for CIA certification must meet the eligibility requirements provided by the Institute of Internal Auditors. The candidate must possess a 4 year post- secondary degree or its equivalent from a recognized university or college, furthermore documents including a university letter for degree authentication, copy of degree and evaluation services letter also needs to be submitted. In case a candidate does not hold a post- secondary degree he can opt for an alternative route to enroll in the certification which includes a minimum five years of internal audit experience along with a two year degree or seven years of experience in the practice. In order to obtain the IIA-CIA-Part2, Internal Audit Practice certification the candidate possessing 4 year degree must also gain work experience relevant to the qualification for 24 months (2 years).

Syllabus Overview :

The course for IIA-CIA-Part2, Internal Audit Practice is divided in three broad categories which them are further divided in to sub categories. These major categories include managing the internal audit function making up almost 40%-50% of the total exam, managing individual engagements covering the same weightage in the exam and fraud risks and controls comprising 5%-15% of exam. Managing the internal audit function covers the strategic as well as operational roles of Internal Audit along with establishing a risk based approach for an organization. The managing individual engagement sections cover the planning and supervising of engagements, communicating the results and monitoring those results. The section on fraud covers the identification, assessment and reporting of fraud. IIA-CIA-Part2, Internal Audit Practice exam covers each topic area in detail in order to develop and test the skills of the candidate.

Preparing for Exam:

There is no defined curriculum for this exam and the candidates should self- study for it. A number of resources are available to start the preparation. The candidates can download study guides as PDF or word files and purchase training kits which contain sample tests, various questions and answers and description of topics to practice for the exam. Review courses and is also available but a candidate should only opt for them if they are from trusted sources. There are some sample exam questions also available of IIA’s website for reference purpose. There are total 100 questions in the exam which need to be completed in 2 hours i.e. 120 minutes. After successfully completing this exam the candidate can appear for the third exam to become a certified internal auditor. After completion of all the three exams and meeting the professional experience requirement the certification is granted to the individual.

Conclusion:

Every entity has an internal audit department to oversee the controls operating in the entity. By obtaining a certification any professional can benefit from increased salary and professional competency as desired by the employers.

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