Audit & Risk

Gold standard – the value of recognition

Being chartered demonstrates your skills and competence and gives you influence within both your organisation and the wider profession. All dedicated internal auditors should aspire to it, writes Ian Peters, chief executive of the IIA.

in Features.

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Two key concerns of the Chartered IIA are developing the talent and skills of the profession of internal audit and ensuring that internal audit professionals receive the recognition that they deserve. 

Over the past two years, nothing has represented this better than our work to establish the Certified Internal Auditor (CIA) qualification and the Qualification in Internal Audit Leadership (QIAL). These internationally recognised qualifications were introduced to the UK and Ireland last year as part of our ongoing commitment to meeting the needs of practitioners operating in an increasingly global business world and profession.

Since the launch of the CIA and the QIAL, hundreds of committed internal auditors have studied towards qualifications that are recognised across the globe – working everywhere from the UK to Singapore, Brazil to Australia, and all places in between.

Chartered status

But the Chartered IIA also offers its own unique recognition of talent and dedication within the profession of internal audit: Chartered Internal Auditor status (CMIIA). This offers unique benefits that are worth serious consideration. In a globalised world, the UK stands out as a beacon of good corporate governance; home to a highly mature corporate market and considerable demand for well-qualified internal auditors. As the highest designation awarded in one of the world’s most advanced markets for internal audit, chartered status is therefore the gold standard in the professional practice of internal auditing. Being chartered demonstrates your advanced skills and competence and gives you influence within both your organisation and the wider profession. All dedicated internal auditors should aspire to it.

The process of acquiring the CMIIA is rigorous. You must demonstrate your capabilities in internal audit leadership through examination, while your professional experience is thoroughly assessed by your peers. But the rewards of chartered status are not limited to prestige: our recent research suggests that internal auditors with Chartered Internal Auditor status earn over £20,000 a year more than those without.

So, it seems clear to us that chartered status ensures that not only are your talents recognised, but you’re rewarded as well.

CPE

Our focus on ensuring that internal auditors have the skills they need and recognition they deserve is also reflected in recent changes to our requirements relating to continuing professional education (CPE). We are entering a new chapter with CPE, in part inspired by our new qualifications offer. This new chapter will see our technical resources, training courses and events aligned more closely with key competencies, as we work to ensure that internal auditors have access to the up-to-date knowledge and skills that they need.

We hope that members will grasp the opportunity presented by the changes as they build on their qualifications and continuously improve as internal auditors.
Meanwhile, in a world that is prone to information overload, the Chartered IIA will continue to work on behalf of the profession to ensure that the qualifications we award and the support we provide mean that internal auditors stand out from the crowd and receive the recognition they deserve.

The IIA: find out more

Visit the main IIA site

Jobs

Auditor

Post Number: FSA02
Grade: 7- SO2 Salary: £23,166 - £29,854
Hours: 37 per week

Audit Manager

£38,789 - £42,474 pa
37 hpw, permanent.

Senior Internal Auditor

Sector: Not For Profit
Salary: £41,000 (raising to £46,000 after probation)
Location: London
Job Ref: SD/148943

Careers advice

Destination designation

The Chartered IIA is keen to work with organisations that want to ensure all their internal auditors have the right skills to succeed in today’s industry. One of these is Citigroup, which recently launched a training scheme accredited by the institute and put 20 senior internal auditors through the Chartered by Experience route to achieve CMIIA. So what does this look like in practice?
Words: Ruth Prickett

Gold standard – the value of recognition

Being chartered demonstrates your skills and competence and gives you influence within both your organisation and the wider profession. All dedicated internal auditors should aspire to it, writes Ian Peters, chief executive of the IIA.

Chartered by Experience

There is a new route to becoming a chartered internal auditor: Chartered by Experience.

Training & Development

CPE: Solid foundations

Continuing professional education is an important tool for developing your skills, progressing through your career and ensuring that the qualification and the profession are respected. The Chartered IIA’s CPE requirements will be changing in April to bring them into line with those of IIA Global. So what do you need to know to stay ahead?
Words: Ruth Prickett

Destination designation

The Chartered IIA is keen to work with organisations that want to ensure all their internal auditors have the right skills to succeed in today’s industry. One of these is Citigroup, which recently launched a training scheme accredited by the institute and put 20 senior internal auditors through the Chartered by Experience route to achieve CMIIA. So what does this look like in practice?
Words: Ruth Prickett

Gold standard – the value of recognition

Being chartered demonstrates your skills and competence and gives you influence within both your organisation and the wider profession. All dedicated internal auditors should aspire to it, writes Ian Peters, chief executive of the IIA.

Tools

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CPE: Solid foundations

Continuing professional education is an important tool for developing your skills, progressing through your career and ensuring that the qualification and the profession are respected. The Chartered IIA’s CPE requirements will be changing in April to bring them into line with those of IIA Global. So what do you need to know to stay ahead?
Words: Ruth Prickett