IIA Certified Financial
Services Auditor is a certification that’s hold great value for the
auditors working in financial industry which mainly comprise of banking
institutions, insurance companies, brokerage houses, mutual funds, investments
companies, regulatory agencies and security and commodity companies. If a
finance professional is planning to grow his career as an auditor and looking
forward to maximize his opportunities IIA-CFSA is the right
certification for him. It provides an optimum blend of skills and education
which will distinguish the professional from his peers. The institute of
Internal Auditors (IIA) conducts surveys related to financial services and
requirement for emerging qualifications and designs its certifications
according to the feedback. As the certification reflects the current market
trends and expectations therefore anyone opting for the certification will
benefit from it in the long run.
Eligibility Criteria:
In order to gain IIA-CFSA, IIA Certified
Financial Services Auditor certification a candidate must meet the
eligibility requirements associated with it. According to the eligibility
criteria a candidate must possess a 4 year post-secondary degree or higher from
a recognized university or college or three years of experience along with two
years of post-secondary education. A part from this the candidates are also
required to submit a character reference signed from CIA,CGAP,CFSA,CRMA or the
candidate’s supervisor . The character reference form can be printed from IIA’s
website. The eligibility period for IIA-CFSA,
IIA Certified Financial Services Auditor is four years from the date of
approval of application.
Course Outline &
preparation:
The course outline covers four
domains namely Auditing financial services products, Financial Services
Auditing, Auditing Financial Services Processes and The Regulatory Environment.
The questions and answers of previous exams are not disclosed by IIA
therefore in order to prepare for the IIA-CFSA,
IIA Certified Financial Services Auditor exam the candidate should refer to
the study guide which can be ordered via the bookstore. A part from that
several other books and training kits are available which provide study
material along with sample questions and answers and practice
tests which can prove to be very helpful during exam preparation.
Exam
IIA-CFSA, IIA Certified Financial Services Auditor exam is
available in various languages which include English, Chinese, Italian,
Portuguese and Spanish. The exam follows computer based testing method which
can be attempted at any of the approved locations around the world. IIA
CFSA exam consists of 115 exam questions all of them are
multiple choice questions. The duration of exam is two hours and fifty-five
minutes. The exam weightage is divided in to two parts. 80% of exam
questions are based on all three sectors banking, insurance and securities
while the remaining 20% is based on the disciple chosen by the candidate.
Conclusion
Once the IIA-CFSA, IIA Certified Financial Services Auditor exam has been
passed and all other requirements have been fulfilled a confirmation email is
sent to the candidate by IIA. Directions related to how to obtain the
certificate and mentioned in that email. A request needs to be raised on the
Certificate Candidate Management System after entering all the relevant
details. The printed certificate is then dispatched to through mail to the
certified professionals.
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