What You Need to Know Before Taking the CIA Exam

If you've decided to take the plunge and pursue the coveted Certified Internal Auditor (CIA) designation. Congratulations! Earning your CIA certification demonstrates your commitment to the internal audit profession and opens doors to exciting career opportunities. But before you dive headfirst into studying, here's a breakdown of what you need to know to ensure exam success.

Check if you’re eligible

Before you start your journey, ensure you meet the eligibility requirements set by the IIA. These typically involve a combination of education and relevant work experience.

Decide if it’s the right certification program for you

The Certified Internal Auditor (CIA) designation offered by the Institute of Internal Auditors (IIA) The CIA exam is a globally recognized standard for internal audit professionals and is considered the gold standard in the field.

However, there's another option to consider: the Internal Audit Practitioner (IAP) exam, also offered by the IIA. The IAP exam is designed for individuals who are new to the internal audit profession or who have limited experience. It assesses foundational knowledge of internal audit practices and serves as a stepping stone towards the CIA designation. You can find more information about the IAP Exam here.

Understand the CIA exam

The CIA exam is administered by the Institute of Internal Auditors (IIA) and is considered the gold standard for internal audit professionals worldwide. It's a three-part, computer-based exam that assesses your knowledge across a broad range of internal audit disciplines. Each part covers a different domain, and you'll need to pass all three parts within a specific timeframe to earn your CIA designation.

• Part 1 - Essentials of Internal Auditing: Focuses on the foundations of internal auditing, and the structure and function of the internal audit activity in the organization.
• Part 2 - Practice of Internal Auditing: Delves deeper into the practice of the knowledge you have learned in part 1. Therefore, we encourage you to prepare for both parts 1 and 2 before attempting either of them, particularly if you don’t have any previous audit experience.
• Part 3 - Business Knowledge for Internal Auditing: Tests your knowledge on core business concepts that internal auditors are expected to know.

Prepare for the exam

Earning your CIA designation requires dedication and a well-structured study plan. Here are some key steps to ensure you're well-prepared.

Develop a solid study plan

Preparation is key to conquering the CIA exam. Here are some tips for creating an effective study plan:

• Review the exam syllabus: familiarize yourself with the detailed exam syllabus provided by the IIA. The syllabus outlines the specific content covered in each part of the exam. This will help you understand the areas you need to focus on. We have prepared an outline with all the necessary information about the exam content, which you can find here.
• Create a realistic study schedule that allocates sufficient time for each exam part and allows you to review key concepts thoroughly. PRC offers a helpful guide to help you create a customized study strategy.
• Select study resources: Professionally developed CIA preparation materials can provide valuable guidance and structure to your studies, especially if you are self-studying. Register for our free demo to see if our study materials fit your expectations.
• Set realistic goals: Break the study material into manageable sections and create a schedule to dedicate enough time to each area.
• Practice makes perfect: Take advantage of mock exams. This will help you get comfortable with the exam format, identify your weak areas, and build test-taking confidence.
• Manage your time: Allocate time strategically based on the weight of each section. Remember not to get stuck on any question for too long.

Get certified!

Passing the CIA exam is a major achievement, but it's not the final step. To become a Certified Internal Auditor (CIA), follow these steps:

• Get your CIA certificate: The Institute of Internal Auditors (IIA) will issue your official certificate. You might need to confirm your eligibility and complete any outstanding requirements through their Candidate Management System (CCMS).
• Become listed on the IIA Certification Registry: The IIA maintains a registry of all active CIAs. Getting listed enhances your credibility and demonstrates your certification to potential employers.
• Maintain your certification: The CIA certification requires Continuing Professional Education (CPE) credits. You'll need to complete 40 hours of CPE annually, with a minimum of 2 hours in ethics. The IIA offers resources and guidance for meeting CPE requirements.

Earning your CIA certification is a rewarding journey that demonstrates your commitment to excellence in internal auditing. By understanding the exam format, developing a solid study plan, and approaching test day with the right strategies, you'll be well on your way to achieving this designation and propelling your career forward. Remember, with dedication, perseverance, and the right resources, you can successfully navigate the CIA exam and embark on a fulfilling career as a Certified Internal Auditor.