Pursuing a career as a certified internal auditor has a strong set of requirements for any candidate, but it can also lead to high job satisfaction and hefty compensation.
After all, accountants and auditors show a median salary of nearly $80,000 and a faster-than-average growth outlook.
Ready to put in the work to start reaping some serious rewards? I’ll walk you through every requirement aspiring CIAs need to complete, from education to experience.
Let’s dig in so you can get started on your dream career path.
Key Takeaways
- Education Requirements Vary: To become a CIA, you’ll generally need a bachelor’s degree, but associate degrees or a high school diploma with more experience can also qualify.
- Professional Experience Is a Must: To meet CIA requirements, you need relevant work experience in internal auditing, with specific experience hours depending on your education level.
- The CIA Exam Has Three Parts: The CIA exam covers essentials, practice, and business knowledge in internal auditing. You must pass all three parts to earn the certification.
- Continuing Education Keeps You Certified: Once certified, you need to complete annual Continuing Professional Education (CPE) hours to keep your CIA active.
- Exam Prep Courses Can Boost Success: Enrolling in a CIA exam prep course provides structured study materials and practice exams, helping increase your chances of passing on the first try.
Why Become a Certified Internal Auditor?
Being a Certified Internal Auditor (CIA) is more than just a title – it’s proof that you have the skills and expertise to conduct high-level internal audits. CIAs are in demand globally for their insights into risk management, internal controls, and financial management, and they often enjoy more career growth and higher earning potential than their non-certified counterparts.
Certified Internal Auditor Requirements
If you’re ready to pursue the CIA credential, there are a few key requirements you need to meet. Here’s what you’ll need to check off your list:
| Complete | Requirements | Description |
|---|---|---|
| Education | Hold a bachelor’s degree from an accredited institution or meet IIA’s alternate pathway. | |
| Work Experience | Complete 24 months of internal auditing experience (12 months with a master’s degree). | |
| Pass the Exam | Pass all three parts of the CIA exam within the eligibility window. | |
| Submit Application | Apply through the IIA, providing proof of education, experience, and character reference. |
1. Education Requirements
The first step is meeting the educational requirement set by the Institute of Internal Auditors (IIA). You’ll typically need a bachelor’s degree to qualify, but some alternatives are available if you don’t have one. Here’s how it breaks down:
- Bachelor’s Degree: This is the most straightforward route. A degree in fields like accounting, finance, business administration, or information technology can be especially useful.
- Associate Degree or Equivalent Experience: If you don’t have a bachelor’s degree, an associate degree plus five years of internal audit experience may qualify you.
- High School Diploma: Believe it or not, you can even qualify with a high school diploma! However, you’ll also need five years of internal audit experience to be eligible.
💡 Pro Tip: If you’re an active student in your final year of college, you might qualify to start the CIA program early. Just make sure to check with the IIA for specific eligibility requirements.
2. Professional Experience
Meeting the education requirement is only half the battle – you’ll also need professional experience in internal auditing. The amount of experience varies based on your education level:
- Bachelor’s Degree: 2 years of internal audit experience
- Associate Degree: 5 years of experience
- High School Diploma: 5 years of experience
The IIA considers work in risk management, internal control assessment, compliance, and similar roles as valid internal audit experience. If you’ve worked as a financial analyst, compliance officer, or in another internal audit-related position, your experience could count!
3. Pass the CIA Exam
The CIA exam is the core of the certification process, and it’s designed to test your knowledge and skills in three main areas:
- Part 1: Essentials of Internal Auditing – covering the basics of internal audit roles, risk management, and internal controls.
- Part 2: Practice of Internal Auditing – focusing on managing the internal audit function and performing engagements.
- Part 3: Business Knowledge for Internal Auditing – emphasizing areas like financial management, information technology, and general business knowledge.
Each part of the exam is around two hours long, with multiple-choice questions to assess your grasp of internal auditing. Many candidates find it helpful to take an exam prep course, as these provide structured study materials, practice questions, and sometimes even mock exams.
👀 Looking for a Prep Course? We’ve reviewed the best CIA exam prep providers out there. Check out our recommendations to boost your chances of success and make studying easier!
4. Submit the CIA Application
Once you’re ready to take the exam, you’ll need to submit an application through the IIA. This involves:
- Official Transcripts: You’ll need to provide official transcripts to verify your educational background.
- Proof of Experience: In addition to your transcripts, you’ll submit documentation of your work experience.
- IIA Membership (optional): While not required, IIA membership offers perks like discounts on exam fees, networking opportunities, and access to exclusive resources for internal audit professionals.
The application process can take a few weeks, so be sure to submit everything well in advance of when you plan to sit for the CIA exam.
What Comes Next: Maintaining Your CIA Certification
Once you pass the CIA exam and receive your certification, it’s time to celebrate!
But, post-celebration, there’s one last step: keeping your certification active. As a CIA, you’ll need to complete Continuing Professional Education (CPE) hours every year to stay current. This ongoing education requirement helps you stay up-to-date on changes in the industry, best practices, and new regulations. Here’s what’s required:
- Minimum CPE Hours: You’ll need a minimum of 40 CPE hours each year (with 2 of them in ethics), with a focus on internal auditing, risk management, and related topics.
- Record-Keeping: The IIA requires that you keep records of your CPE hours. Make sure to keep certificates or proof of attendance for each course or seminar you complete.
- Non-Practicing CIAs: If you’re no longer actively working as an internal auditor but want to keep your CIA status, you can switch to “non-practicing” status, which has reduced CPE requirements.
🎓 Want a Shortcut to CPE Credits? Many exam prep providers also offer CPE courses, making it easy to stay certified and compliant with IIA requirements.
How to Study for the CIA Exam
Studying for the CIA exam requires dedication, but you don’t have to go it alone. Here are some tips and resources that can help you succeed:
- Take a Prep Course: Enrolling in a prep course gives you access to structured study materials, practice exams, and expert guidance. This can make a huge difference, especially if you’re balancing study time with work and other responsibilities.
- Create a Study Schedule: Breaking up the content into manageable sections can help prevent overwhelm. Plan to study a few times each week and give yourself plenty of time to review challenging topics.
- Use Practice Exams: Practicing with real exam questions can build your confidence and help you get comfortable with the format of the CIA exam.
🟢 Ready to Start Your CIA Journey? We’ve got you covered with top-rated CIA exam prep courses to help you succeed on your first try. Take advantage of our recommended courses, get access to study resources, and kickstart your CIA journey today!
Conclusion
Becoming a certified internal auditor is a smart move if you’re interested in advancing your career in internal auditing. It requires dedication, a commitment to learning, and the drive to meet the certified internal auditor requirements.
However, the outcome is well worth your hard work.
If you’re ready to start the journey, take that first step by meeting the education and experience requirements, then focus on acing the CIA exam.
Give it your all, and you’ll be well on your way to your dream job. And remember: you got this!
FAQs
If you have a bachelor’s degree, you’ll need two years of experience in internal auditing; with an associate degree or high school diploma, it’s five years.
The CIA exams include three separate sections: Essentials of Internal Auditing, Practice of Internal Auditing, and Business Knowledge for Internal Auditing, all covering core audit knowledge and skills. Obviously, however, the IIA keeps the specifics of the CIA exam confidential.
Yes, certified internal auditors must complete at least 40 hours of Continuing Professional Education (CPE) each year to maintain their certification and stay up-to-date in the industry. 2 of the 40 hours must be in ethics.
The Institute of Internal Auditors’ professional certification board offers the only globally recognized certification program for aspiring internal auditors, making your distinction uniquely valuable.
The certified internal auditor focuses specifically on internal auditing, while certified public accountants and chartered certified accountants cover broader areas like public accounting and financial reporting. For a specialized career in internal audit, the CIA is ideal.
