How to prepare for CIA challenge exam?

CIA Challenge Exam Prep Course

A certified internal auditor is a highly qualified individual who conducts internal audits by established guidelines and assesses the internal procedures, financial system health, and controls of an organization. A Certified Internal Auditor (CIA) is the best way to display your knowledge, abilities, and competencies to carry out professional obligations for any internal audit. It is the only globally recognized internal audit credential and thus opens employment and networking opportunities for you.

However, the CIA exam is challenging, and there is only a 40% global pass rate for the CIA program. This means that if you wish to pass the exam on your first attempt, then you have to be rigorous with your study regime and adhere to it diligently.

How to prepare for the CIA Challenge exam

A faster route to becoming a certified internal auditor is to take the CIA challenge exam. Candidates who meet the standard CIA eligibility requirements can obtain the certification with just one exam provided they have prior experience in accounting and internal auditing.

The CIA Challenge exam presents 150 questions to complete in 180 minutes and requires a 600 out of 750 point score to pass.

To obtain this score, you should you both a discipline regime and a plan for studying for the exam. 

Make a study schedule that is only for the course on Certified Internal Auditor: It is advised that you familiarise yourself fully with the Certified Internal Auditor Exam syllabus before beginning. There are three sections to the CIA exam.

• Part 1: The Essentials of Internal Auditing:  Covers fundamental internal auditing topics, including independence, objectivity, proficiency, quality assurance, governance, risk management, control, and fraud risk.
• Part 2: Internal Auditing Practice: Assesses knowledge, abilities, and skills relevant to managing internal audit activities, engagement organization, execution, reporting, and progress tracking.
• Part 3: Business Knowledge for Internal Auditing: Evaluates business acumen, information security, technology, financial management knowledge, skills, and competencies.

Establish a Study Schedule and Follow It: You have the option to make your own study schedule or obtain review resources. If you stick to the suggested strategy, you have to think about the areas you could struggle with or find more challenging than the others. In this manner, you can allot more time for the difficult subjects. Even though you have set aside a substantial amount of time for your study plan, remember to take frequent breaks so that you can return to your study sessions with renewed energy.  

CIA Challenge Exam Prep Course

The CIA certification by Netrika, recognized as a hallmark of excellence in the field of internal auditing, opens doors to a wide range of career opportunities. Our seasoned staff members have twenty years of experience and hold elite certifications. They have gone above and beyond to provide applicants with theoretical and practical abilities that define their careers and enable them to succeed in reaching the pinnacle of their respective fields. CIAs can excel in roles such as auditors, investigators, risk management professionals, compliance officers, and more. They possess the expertise to apply their knowledge in practical situations, making them valuable assets in various professional settings.

Track Your CIA Internal Auditor Performance: You need to establish a benchmark so that you can continuously track your CIA exam readiness. Additionally, it helps you avoid being jittery if you are unsure about what to expect during the exam or how to use the time allocated. You can use practice papers and regularly attend mock exams to keep an eye on how you’re doing.

Meet the Requirements for CIA Certification: To qualify for the CIA certification, a candidate needs to meet a predetermined set of requirements. The Institute of Internal Auditors requires candidates to have an associate’s degree or higher to be accepted for the CIA certification program. They also need to be able to provide official transcripts, or an equivalent, upon request.