All you need to know about the IAP Exam
All you need to know about the IAP Exam
The Internal Audit Practitioner (IAP), administered by the Institute of Internal Auditors (IIA), is an introductory certification program for individuals seeking to enter the internal audit profession. This entry-level certification is particularly suitable for fresh university graduates and professionals with limited or no experience in the audit field.
Who Should Take the IAP?
The IAP certification is a good choice for individuals who are new to internal auditing and want to get a strong foundation in the profession. Such as:
- University Students: The IAP exam provides a valuable introduction to the internal audit profession for university students aspiring to pursue a career in this field. It equips them with the essential knowledge and skills to make an informed decision about their career path.
- Beginner Internal Auditors: For those new to the internal audit profession, the IAP exam serves as a kickstart for their professional development. It provides a comprehensive understanding of the core concepts and principles of internal auditing, preparing them for success in their initial roles.
- Seeking quick demonstration of internal audit capabilities: Individuals who want to quickly demonstrate their internal audit capabilities to potential employers or clients can benefit significantly from the IAP designation. Earning the IAP designation showcases their commitment to the profession and their grasp of essential internal audit concepts.
- Gateway to CIA Certification: For those aspiring to pursue the Certified Internal Auditor (CIA) designation but do not meet the entry requirements, the IAP exam serves as an essential stepping stone. The IAP certification fulfils the eligibility requirement for the CIA program, allowing individuals to advance their careers further.
Eligibility and Requirements
To be eligible for the IAP designation, you need to submit the following:
- Government-issued ID
- Completed application form (through the IIA’s CCMS)
- IIA membership is optional, but is required in the following countries: United Kingdom, Ireland, South Africa, Eswatini, and Lesotho
You have two years from the date of approval to join the program to pass the exam.
Exam Outline and Structure
The IAP exam covers the following topics:
- Internal Audit Attributes (IIA Standards 1000, 1100, 1200) - 20%
- Nature of Work (IIA Standard 2100) - 20%
- Engagement Planning (IIA Standard 2200) - 23%
- Engagement Work (IIA Standard 2300) - 25%
- Engagement Communication (IIA Standard 2400) - 12%
CIA vs. IPA (content and structure)
What is the Passing Score for the IAP Exam?
The IAP exam consists of 100 multiple-choice questions (MCQs) and is administered in two hours. A passing score of 600 out of 750 is required to pass.
How to Register for the IAP Exam
IAP registration process is similar to CIA. Check process here.
Exam Fees and Availability
|
Membership Status |
Application Fee |
Exam Fee |
|
Member |
US $75 |
US $150 |
|
Non-member |
US $150 |
US $250 |
The exam is offered year-round at Pearson VUE testing centers and online testing is available in some regions.
Designation Expiry
The IAP designation is valid for three years and is not intended to be held indefinitely. The IIA designed this designation as an entry program for individuals who lack the knowledge or experience required for the CIA certification program.
What are the Benefits of Passing the IAP Exam?
The IAP certification provides several benefits to individuals seeking to enter the internal audit profession:
- Demonstrates a commitment to the internal audit profession.
- Provides a solid foundation in internal audit principles and practices.
- Serves as a stepping stone to the CIA certification.
- Enhances career prospects and earning potential.
Will the changes to the Standards affect the IAP exam?
The good news is that there are currently no planned changes to the IAP exam before January 2025. So, you can rest assured that if you're preparing for the IAP exam now, the content and structure you're studying will be valid at least until January 2025. However, we encourage you to stay up to date on exam changes by subscribing to our mailing list and check our dedicated page here.
If you are considering a career in internal auditing, the IAP certification is an excellent starting point. It will equip you with the knowledge and skills you need to succeed in this challenging and rewarding field.
