KUCHING: Given the scale of past financial crisis, many companies failed to properly assess and manage their risks.
To boost the internal audit industry, ACCA (the Association of Chartered Certified Accountants) has agreed with IIA (the Institute of Internal Auditors) to develop the Certified Internal Auditor (CIA) Challenge Exam that will be available to ACCA members in November 2015.
This deal will provide an opportunity for ACCA members to become CIA certified through a customised exam, which will include key syllabus and learning outcomes of the CIA exam.
David Chin, head of ACCA Malaysia, explained: “Internal audit is an important discipline that demands specific skills, abilities and knowledge.
“Through ACCA training, our members have already developed essential skills concerned with risk, internal control and corporate governance, all of which are seen as crucial aspects of effective internal audit.
“However, with so much recent scrutiny in the news regarding the absence of, or poor quality internal audit and its impact on shareholder confidence, this is an opportune time to invest in internal audit.
“This is also an excellent opportunity to allow existing ACCA members to further develop their expertise in this specialised field in which, being qualified clearly matters.”
Offering the CIA Challenge Exam to members is a value-add, whereby members working in internal audit, or those who are looking to develop a career in internal audit, can obtain the CIA designation and clearly demonstrate their expertise in this area.
Richard Chambers, President and CEO of the IIA, added: “We are pleased to partner with ACCA on this development. This creates a basis for cooperation and collaboration between us, which we will be building on in the future.”
ACCA has also launched a new resource for IIA and ACCA members working in internal audit with a dedicated section on the ACCA website. This includes useful guides and articles including internal audit for managers and also for the audit committee.
Registration for the CIA Challenge Exam opens on 1 August 2015. Visit http://bit.ly/ACCA-CIA for more information.