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#1564667 - 06/14/11 06:01 PM Certifications
Banker Offline
100 Club
Joined: Oct 2007
Posts: 128
Southeastern US
I have been working in internal audit for about 3 years now. I also help out in the compliance area although I am not a Compliance Officer. I currently have no certifications in audit or compliance (just a Bachelor's degree in Financial Management). I am at the point that I would like to look into additional education/certification. There are so many to consider. Which do you all consider most helpful in your job as well as looking good to examiners, on a resume, etc?

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#1564699 - 06/14/11 06:32 PM Re: Certifications Banker
osucpa Offline
Diamond Poster
Joined: May 2011
Posts: 1,400
The most useful on a resume would be your CPA. After your CPA go get your Certified Internal Auditor.

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#1564714 - 06/14/11 06:42 PM Re: Certifications osucpa
A_G Offline
10K Club
Joined: Jul 2004
Posts: 18,958
Though, keep in mind that the CPA is a license and the requirements to be able to sit for the exam are more strict. For example, you need a X number of hours in certain areas of course study.

If you plan to stick with internal audit, the examiners love to see you have the CIA certification.
With the lights out, it's less dangerous.

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#1564840 - 06/14/11 09:11 PM Re: Certifications A_G
JustMe! Offline
Gold Star
Joined: Oct 2005
Posts: 428
wishful thinking ...
You can also get a certification through ICBA (Independent Community Bankers of America). The Certification is a Certified Community Bank Internal Auditor (CCBIA). It is two weeks classes along with a total of 6 tests that you take during the two weeks. The examiners that we have had seem to be happy that our auditors have this certification. I thought that the two weeks of classes were very helpful. You can either take both weeks at the same time or you can split them up as long as you take both weeks within one year. They are offer the classes in the Spring in Kansas City, MO and in the Fall in Minneapolis, MN. I have had the certification for almost 6 years and my staff are all required to receive the certification.
If you don't have time to do it right, when will you have time to do it over?

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#1564971 - 06/15/11 01:00 PM Re: Certifications JustMe!
Tater Offline
Platinum Poster
Joined: Jan 2006
Posts: 627
The ICBA class is an exceptional one...around my bank, we have a Certified Internal Auditor, Certified Compliance Officer and Certified BSA/AML Professional. The CPE isn't that bad and they do a good job of having timely issues presented at their conferences.
Born once? Die twice.
Born twice? DIE ONCE!

Loan Review, HMDA, ALLL

Opinions are my own and do not reflect any others

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#1565067 - 06/15/11 02:41 PM Re: Certifications Tater
Banker Offline
100 Club
Joined: Oct 2007
Posts: 128
Southeastern US
So, I have decided to study and take the CIA exam. Does anyone have any particular tips for me? I am thinking of purchasing the Gleim test prep. How much study time do I need to budget for myself before I plan to take the test?

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#1565907 - 06/16/11 05:26 PM Re: Certifications Banker
jennybecky Offline
New Poster
Joined: Feb 2010
Posts: 14
Part 1 and Part 2 didn't take long for me (studied 2 months for each), but I am going on over a year of studying and taking part 3...getting ready to take it again, hoping third time's a charm. There is SO much material on part 3 compared to 1 and 2. I have no idea for part 4...not there yet smile

Gleim was helpful on 1 and 2. But wasn't on 3 for me. I took the IIA course at a university and have their online study access. I increased 150 points between using gleim for one and the online study (iia) for the second attempt but still didn't pass. We'll see! Best of luck!!

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#1567368 - 06/21/11 02:49 AM Re: Certifications Banker
Rocky P Online
Power Poster
Joined: Jun 2003
Posts: 7,401
Check out your local IIA chapter. If you're not a member, join. You'll meet a lot of great people and get a lot of good advice [and contacts]. Many chapters have review programs and some have the books available either at a reduced rate, or in their library.

Experience helps out a lot, especially of your shop is well run. Read the Gleim, and picture how your department does things. If there is a good match, thinking through some of the problems will be a lot easier rather than just memorizing words.
Integrity. With it, nothing else matters. Without it, nothing else matters.

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#1568006 - 06/22/11 01:05 PM Re: Certifications Rocky P
DerrickAuditor Offline
Joined: Mar 2008
Posts: 91
We have a multi-person audit shop and I like for my auditors to have some diversity of certifications. We have 2 CPAs, 1 CIA, 1 CISA (IT auditor cert), and 1 CFE (Certified Fraud Examiner). So, when assigning audits, I can assign the right person based on their experience/expertise. For a small 1 or 2 person audit shop, I'd recommend CIA or CPA as mentioned above as these certifications cover broad topics.

Best wishes on your studies.

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