
Certified Internal Auditor (CIA)
Price
₹50,000 to ₹1,00,000
Duration
6-7 years(after 10th)
Skills Required
About the Course
The Certified Internal Auditor (CIA) program is designed for professionals seeking to advance their careers in internal auditing. It covers essential topics such as governance, risk management, and compliance. The certification is recognized globally, validating expertise in internal audit practices. Candidates must pass three parts of the CIA exam, demonstrating their knowledge and skills. With a CIA designation, professionals can enhance their career prospects in various sectors and organizations.
Education Pathway:
1. Complete 10+2 (2 Years)
Stream Options:
Commerce Stream:
Recommended Subjects: -Accountancy: Understanding financial transactions, ledgers, and financial statements.
-Business Studies: Introduction to business principles and practices.
-Economics: Basic economic principles, market dynamics, and financial systems.
-Mathematics: Fundamental concepts that help in data analysis and financial calculations.
Science Stream: (Alternative option for students who prefer science)
Recommended Subjects: -Mathematics: Essential for analytical and quantitative skills.
-Computer Science: Familiarity with software and data management can be advantageous.
2. Pursue a Bachelor’s Degree (3 Years)
Degree Options:
Bachelor of Commerce (B.Com): -Specialization in Accounting/Finance: Focuses on accounting principles, financial management, taxation, and auditing.
-Typical Subjects: Financial Accounting, Cost Accounting, Corporate Law, Auditing, Business Economics.
Bachelor of Business Administration (BBA): -Focus on Accounting/Finance: Offers a broad overview of business management with a specialization in financial aspects.
-Typical Subjects: Business Management, Marketing, Human Resource Management, Financial Management, and Accounting.
Recommended Colleges in India:
Delhi University: -Shri Ram College of Commerce: Renowned for its focus on commerce and business studies.
-Hansraj College: Offers strong B.Com programs with a focus on practical exposure.
University of Mumbai: -Sydenham College: Known for its commerce programs with industry connections.
-Mumbai University: Offers a variety of B.Com programs across its affiliated colleges.
Christ University, Bangalore: Offers a comprehensive BBA program with a specialization in finance.
3. Gain Work Experience
Internships/Entry-Level Jobs:
Pursue internships or entry-level positions in accounting, finance, or auditing to gain practical experience.
Positions may include roles such as: Accounting Intern
Junior Auditor
Financial Analyst Trainee
4. CIA Certification
Eligibility:
A bachelor’s degree in accounting, finance, business, or a related field.
Work Experience: Minimum of 2 years in internal audit or related fields.
Preparation for CIA:
Candidates can opt for preparatory courses from training providers or self-study using approved CIA study materials.
The CIA exam consists of three parts: Part 1: Essentials of Internal Auditing
Part 2: Practice of Internal Auditing
Part 3: Business Knowledge for Internal Auditing
Study Materials:
Books: CIA review books and study guides from recognized providers.
Online Courses: Various platforms offer comprehensive courses designed for CIA preparation.
Mock Tests: Practice exams to familiarize with the question format and time management.
Skills Required:
Analytical Skills: Ability to assess and analyze financial statements and internal controls.
Attention to Detail: Precision in identifying discrepancies and ensuring compliance.
Communication Skills: Strong verbal and written communication for reporting and presentations.
Problem-Solving: Capacity to identify issues and recommend effective solutions.
Ethical Judgment: Strong understanding of ethical practices in auditing and finance.
Scope:
In India:
The demand for certified internal auditors is growing due to increasing corporate governance standards and regulatory compliance requirements. Organizations across sectors seek professionals to enhance their internal controls and risk management practices.
Abroad:
The scope is extensive in developed markets (like the US, UK, and Europe) and emerging markets (like Asia and Africa). Companies worldwide value CIA-certified professionals for their ability to improve organizational efficiency and compliance.
Job Opportunities
In India:
Jobs: Internal Auditor, Risk Manager, Compliance Officer, Financial Analyst.
Sectors: Finance, Banking, Consulting, Manufacturing, Government.
Companies: Tata Consultancy Services (TCS), Infosys, Wipro, Deloitte, KPMG
Abroad:
Jobs: Internal Auditor, Audit Manager, Compliance Consultant, Risk Analyst.
Sectors: Finance, Banking, Insurance, Government, Multinational Corporations.
Companies: PwC (PricewaterhouseCoopers), EY (Ernst & Young), Deloitte, KPMG, Bank of America
Salary
In India:
Entry-Level: ₹4-8 lakhs per annum
Mid-Level: ₹8-15 lakhs per annum
Senior-Level: ₹15-30 lakhs per annum
Abroad:
Entry-Level: $60,000 - $80,000 per annum
Mid-Level: $80,000 - $120,000 per annum
Senior-Level: $120,000 - $180,000+ per annum
Note: Salary and course fees are subject to changes. Course duration can be more depending on the number of papers cleared per attempt.