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Jim EagenDirector, Global Professional Certification Administration, The IIA

Raven Catlin, CIA, CPA, CFSA, CRMA

Consultant, Facilitator, Trainer, Raven Global TrainingNorthern Virginia IIA Board member

IIA District Advisor, Caribbean Region IIA CIA Learning System Instructor

INCREASE YOUR CHANCES OF

PASSING THE CIA® EXAM

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Certified Internal Auditor® Certification Program

CIA Exam Overview

Exam Preparation: The IIA’s CIA Learning System®

Test-Taking Tips

Links and Resources

Questions

What We’ll Cover Today

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CIA Certification

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• 140,000+ certified globally

• Only globally recognized certification for internal auditors

• Based on the International Professional Practices Framework (IPPF)

• First exam administered in August 1974

• 80,000+ exam parts administered each year

CIA Overview

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• Distinguish yourself from your peers

• Gain instant credibility with internal and external clients

• Broaden your knowledge

• Grow your confidence

• Demonstrate your passion and commitment

• Advance your career

• Increase your earning potential

CIA Benefits

Earn $38,000 more as a CIA!(Source: The IIA’s 2017 Compensation Study)

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• Improve performance of your internal auditors

• Demonstrate proficiency and achievement of staff

• Gain credibility with new and existing external clients

• Enhance credibility with executive management and audit committee

CIA Benefits to Employers

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1. Bachelor’s degree– Those without a degree can be approved if they have:

• Two years post-secondary education and five years verified experience in internal audit or its equivalent, OR

• Seven years’ verified experience in internal audit or its equivalent

2. Character reference

3. Professional work experience

4. Successful exam completion

5. Adherence to The IIA’s Code of Ethics6. Continuing Professional Education

CIA Program Eligibility Requirements

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CIA Exam

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• 3-part exam

• Offered year-round with computer-based testing

• 800+ testing centers in 150 countries through PearsonVUE

• 180 days to take an exam part after registering

• Part 1: 125 multiple choice questions; 2 hours, 30 minutes

• Parts 2 & 3: 100 multiple choice questions; 2 hours

• Scoring: Scale of 250-750; 600+ required to pass

CIA Exam Overview

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CIA Exam Content

For the complete exam syllabus:

https://global.theiia.org/certification

Part 1 Exam: Internal Auditing BasicsDuration: 2.5 hours

Question Count: 125

Part 2 Exam: Internal Audit Practice

Duration: 2.0 hours Question Count: 100

Part 3 Exam: Internal Audit Knowledge Elements

Duration: 2.0 hours Question Count: 100

Topical focus areas include:

IIA Mandatory Guidance

Internal Control and Risk

Tools and Techniques for

Conducting the Audit

Engagement

Topical focus areas include:

Managing the Internal Audit

Function

Managing Individual

Engagements

Fraud Risks and Controls

Topical focus areas include:

Governance

Risk Management

Organizational Structure and

Business Processes

Communication

Leadership

IT/Business Continuity

Financial Management

Global Business Environment

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1. Create your profile – Certification Candidate Management System (CCMS).

2. Complete the CIA Application– US$100 for IIA members; US$200 for non-members.

(Application fee waived until May 31, 2017.)

3. Provide documentation– Character Reference

– Education

– Photo Identification

Steps to Take the Exam

Create Apply Provide Register Schedule

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Document Upload

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4. Register for your exam upon application approval– Member fees: US$250 for Part 1 and US$200 each for Parts 2 & 3.

– Non-member fees: US$350 for Part 1 and US$300 each for Parts 2 & 3.

5. Schedule your exam with Pearson VUE– No additional cost to schedule.

– US$75 fee to change or cancel a previously scheduled appointment.

Steps to Take the Exam

Create Apply Provide Register Schedule

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Sample Screens: Pearson VUE

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• Practicing CIAs: 40 hours of CPE every year.

• Non-practicing CIAs: 20 hours of CPE every year.

• 80 CPEs awarded upon passing exam

– 40 awarded year passed

– 40 awarded subsequent year

• Self-certification program

• Forms must be submitted every year by Dec. 31

Maintaining Your CIA Designation

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Download the Certification Candidate Handbook: https://global.theiia.org/certification

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EXAM PREPARATION

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• Trustworthy source

• Complete and up-to-date content

• Practice questions

• Effective learning approach

• Study method that suits your learning style

• Convenience and flexibility to fit your lifestyle

What to Look for in CIA Review Materials

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• Retention of new information without periodic review:

– 47% forgotten in 20 minutes

– 62% forgotten in one day

– 75% forgotten in 15 days

– 78% forgotten in 31 days

A single encounter with a given concept is not

sufficient to ensure the type of long-term learning

that is necessary for success on the exam.

Did You Know?

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• Teaches the entire global CIA exam syllabus

• Content is updated as IPPF and Standards change

• Designed for learning vs. memorization

• Learning options fit any learning style

• Mobile study tools ideal for busy, unpredictable schedules

Why Choose The IIA’s CIA Learning System?

• French & English versions

• Meets The IIA’s standard of excellence

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The IIA’s CIA Learning System offers various learning options to meet your schedule and study preferences:

Delivery Modes

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Prepare to Pass - Steps to Success

1. Plan Your Studies

2. Study The Reading Materials

3. Apply The Concepts

4. Practice For Your Exam

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How Much Time Will You Need to Study?

• Expect to study a minimum of:

– Part 1: 40 hours

– Part 2: 40 hours

– Part 3: 80 hours

• Study times vary based on

– Years of experience

– Expertise in accounting and IT

– Study method

– How quickly you read and comprehend topics

Step 1: Create a Study Plan

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My CIA Review Plan• Create a FREE customized study

plan based on your goals, schedule, and experience. www.LearnCIA.com/my-cia-review-plan

SmartStudy™• Assess strength and weakness by

completing the online pre-test

• Use results to create a comprehensive, step-by-step plan

Step 1: Create a Study Plan

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Step 2: Study the Reading Materials

Study with printed books or your e-reader.

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Step 3: Apply the Concepts

• Chapter Quizzes

• Flashcards

• Online Glossary

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Step 3: Apply the ConceptsSample Chapter Quiz Question

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Step 3: Apply the ConceptsFlashcards and Glossary

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Step 4: Test Your Knowledge

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Step 4: Test Your KnowledgeReports

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CIA tips & tools found in the online Resource Center:

• Bonus printable practice questions

• Guide to knowing when you’re prepared

• Guide to CIA exam scoring

Step 4: Test Your Knowledge

• CIA question analysis grid

• Study tips from successful candidates

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CIA Study Tips &Test-Taking Tips

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• Choose the right study method for your learning style

• Set your exam date, be realistic, but avoid procrastination

• Set a study plan, make and honor appointments with yourself to study based on your plan

• Know your strengths and weaknesses

• Write your own flashcards

• Put extra effort into studying “proficiency” areas• Understand how to apply concepts; go beyond

memorization for “proficiency” areas• Be prepared for the testing center and the test format

Study Tips

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• Read, read, write the IPPF

• Write an audit manual using the Standards as a baseline

• Solidify concepts by thinking of real-life examples

• Your new job:– You work for a publicly traded company

– The CAE reports to the Audit Committee of the Board

– You have a large audit department with varying staffing levels

– You have an advantage if you audit manufacturing, accounts payable, purchasing, inventory, and receivables

Study Tips (continued)

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• Read the last sentence / question before the details

• Look for clues such as “all,” “except,” or “not”• Think of your answer before reading the choices

• Answer broadly and globally – beyond your experience and industry

• Eliminate obvious distracters (aka: wrong answers)

• Trust your first impressions and avoid over-analyzing

• If uncertain, answer it anyway; flag it for review later

Test-Taking Tips

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• Budget your time and don’t rush• Be well-rested and comfortable for the exam

• Remember:

– Bigger, Broader, Better = Best

– Compare Apples to Apples

– Word Association

Test-Taking Tips (continued)

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PricingIndividual

PartsFull Kit

(Parts 1-3)

IIA Member US$295 US$795

Nonmember US$325 US$895

Volume Discount Savings:

Save on orders of 2+ kits! Contact Mike Downs at mike.downs@theiia.org or +1-651-905-2609 for details.

How to Purchase Self-Study Materials

Order Online at www.LearnCIA.com

Plus shipping and applicable taxes.

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Don’t Miss Incredible CIA Savings Until May 31!

Save up to $230 with the CIA Application Fee Waiver• International candidates: Contact

your local IIA Institute• Get complete details at:

www.theiia.org/CIARoadMap

Save 10% on The IIA’s CIA Learning System until May 31• Enter discount code LS512 at

checkout• Order online at:

www.LearnCIA.com

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https://global.theiia.org/certification

• Certification Candidate Handbook

• CIA Exam Registration

• Certification Candidate Management System (CCMS)

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• The IIA’s CIA Learning System details• List of facilitator-led course providers around the globe

• Free Study Plan: My CIA Review Plan

• Free Study Tips and Exam Tips

Resource Links

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One participant on today’s call will receive a complimentary registration for one of the following IIA CIA Online Seminars:

CIA Part 1 Online Seminar: June 5-23, 2017

CIA Part 2 Online Seminar: October 2-18, 2017

CIA Part 3 Online Seminar: July 31 – August 25, 2017

Valued up to US$1,695

Chosen participant must be present on the call to win.

We will contact the winner via email with details.

And the winner is…..

CIA Online Seminar Winner

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Question & Answer

To download the slides, replay this webinar or review a Frequently Asked Questions document, go to:

www.LearnCIA.com/webinars

Available on or before May 15, 2017