If you’re thinking about a job in internal auditing, the Certified Internal Auditor (CIA) designation could be a really good option. This certification comes with a bunch of benefits for internal auditors that can really help your career.
Let’s explore the many advantages of the CIA certification. After we go through all this info, you’ll have a good idea whether becoming a Certified Internal Auditor is worth it for you.
Benefits of Being an Internal Auditor: Introduction to CIA Certification
Getting into internal auditing can bring you a lot of rewards, both in terms of money and career growth. The Certified Internal Auditor certification is a symbol of excellence in this field, and it comes with many advantages beyond just a paycheck.
- More Money
Making more money is often a big deal in choosing a career. The CIA certification is great for this. The Institute of Internal Auditors (IIA) did a study and found that CIAs earn a lot more than non-certified auditors. In the United States, CIAs make around $38,000 more per year on average compared to those without the certification. That’s a big 51% increase in earnings.
The financial benefits of being a Certified Internal Auditor are not just in the US. Even in India, CIAs earn more than regular internal auditors.
And here’s the cool part: The value of the CIA certification grows over time. With experience and the CIA title, you can aim for top positions like Chief Audit Executive or Internal Audit Director, where you can earn a lot more.
- More Job Options
Being a CIA opens up a lot of different jobs you can do. Whether you’re just starting out or have been in the field for a while, this certification gives you more career options.
For newcomers, being a CIA can lead to jobs like:
- Auditing specialist
- Compliance auditor
- Financial analyst
- Information systems auditor
- Internal controls auditor
- Lead internal auditor
- Risk assessment specialist
As you get better, these jobs can become even bigger ones, like:
- Audit manager
- Internal audit director
- Risk manager
- Senior internal auditor
With experience, being a Certified Internal Auditor helps you climb higher, maybe even becoming a Chief Audit Executive, Controller, or Vice President of Internal Audit. So, your career keeps growing and stays interesting.
- Job Security
Right now, companies really need internal auditors, and this isn’t changing anytime soon. The Robert Half Salary Guide shows that the demand for internal auditors is going up because rules and risks in the world are changing.
Companies know how important internal auditors are for keeping them safe and helping them grow. So, if you’re a skilled internal auditor with the CIA certification, you’re in demand. Having the certification means your job is safer, even when the economy isn’t doing great.
- Learn More
Getting the CIA certification isn’t just about having a fancy title. It’s a journey that helps you learn a lot. The Institute of Internal Auditors makes sure that CIA candidates have all the skills they need for the job. The tough CIA requirements, including experience and an exam, teach you everything about internal auditing.
While you’re becoming a Certified Internal Auditor, you’ll get a lot of experience and study hard for the CIA exam. This helps you understand how to do internal audits really well. You’ll know what you’re doing, which makes you more confident and more interesting to employers.
When you put “CIA” on your resume, it tells everyone that you’re serious about growing in your career and being great at what you do. This makes you stand out and makes companies want you in their team.
- More Respect
Becoming a Certified Internal Auditor shows everyone that you’re an expert in internal audits. People at work will look up to you, and your boss and colleagues will know you’re really good at your job.
And it’s not just at your workplace. The whole industry knows that CIAs are the best. This means you might get bigger responsibilities at your job because everyone trusts you.
- Jobs Everywhere
The CIA certification is famous all around the world because of the Institute of Internal Auditors. This group has more than 190,000 members all over the world. They have many certifications, but the CIA is the most important one for internal auditors.
People everywhere know about the CIA certification. It’s worth the same in every country. So, if you’re a Certified Internal Auditor, you can get cool jobs all around the world.
Also, the Institute of Internal Auditors has a club you can join. It’s not a must for getting the CIA, but it’s really helpful. You can meet people, get help with your career, and learn about your industry. You can go to classes and events, and you’ll know about any new rules or advice.
The Easy Way to Become a CIA
Deciding on a certification is a big deal. It’s good to know how hard it is to get. Compared to other certifications, the CIA is a bit easier, especially compared to the Certified Public Accountant (CPA) certification.
- Easy to Get In
The CIA certification is way more flexible than other ones, like the CPA. The requirements are easier for more kinds of people. The CPA needs a lot of education and experience, but the CIA is more open.
You can be a Certified Internal Auditor with just an associate’s degree or something similar. If you’re in college and close to finishing, you can even start the CIA exam. The Institute of Internal Auditors lets you do that if you show you’re almost done with college.
Also, the CIA experience rules change based on your education. If you have a master’s degree, you need just 1 year of experience. With a bachelor’s, it’s 2 years. An associate’s degree is good for 5 years of experience. And if you don’t have enough school, you can do the CIA with 7 years of verified experience.
- Not Too Hard to Pass
The CIA exam is easier than the CPA exam because it’s not so complicated. The CIA exam has 3 parts:
- Essentials of Internal Auditing (Part 1)
- Practice of Internal Auditing (Part 2)
- Business Knowledge for Internal Auditing (Part 3)
Each part only talks about internal auditing, so it’s not as broad as the CPA exam. And the questions in the CIA exam are just multiple-choice, which makes it simpler.
You also get a good amount of time for the CIA exam. Part 1 gives you 150 minutes, and Parts 2 and 3 give you 120 minutes each. You can take the CIA exam whenever you want during the year, so you’re not stuck to a schedule.
And remember, you don’t have to hurry with the CIA. You have 3 years to finish all 3 parts of the CIA exam, which is longer than the CPA Exam.
The CIA certification is a great mix of being hard enough to be worth it, but not so hard that you can’t do it. The rules are flexible, and the exam is doable. It’s a good choice if you want a certification that works with what you know and what you can do.
