Essentials of Internal Auditing (CIA Part 1 Curriculum)

CIA examination consists of three Parts. Part 1 is named “Essentials of Internal Auditing”. It offers a comprehensive roadmap for individuals seeking to embark on a journey in internal auditing. Below we have provided the points you will understand and learn (learning objectives) in CIA Part 1. The entire curriculum is divided into six units as per the Institute of Internal Auditors. The percentage coverage of all topics is also mentioned.

Just to introduce, the Academy of Internal Audit is the best training institute for global certification courses and an authorized learning partner of IIA India. Let's dive into the learning objectives of the CIA part 1 curriculum:

This domain makes up 15% of part 1 of the CIA exam and is tested at the basic and proficient cognitive levels. The learning objectives are:

• Understand the goals, scope, and accountability of the internal audit activity. Primarily covers the IIA's definitions of internal auditing, the core principle for the professional practice of internal auditing, and the mission statement for internal auditing.
• Describe the requirements for an internal audit charter.
• Explain the distinction between guarantee and advisory services offered by the internal audit activity.
• Show compliance with the IIA Code of Ethics.

In order to evaluate and improve the effectiveness of the organization's governance, risk management, and internal control processes, internal audit is responsible for assurance and consulting work.

This domain makes up 15% of part 1 of the CIA exam and is tested at the basic and proficient cognitive levels. The learning objectives are:

• Understand the internal audit activity's organisational independence
• Identify whether the internal audit activity has any impairment of it to its independence.
• Evaluate and maintain an individual internal auditor's objectivity, including assessing whether there are any limitations to his or her objectivity.
• Analyze policies that promote objectivity.

Independence is an organizational attribute. The internal audit activity as a whole must be free of restrictions and give access to pertinent areas of the organization. Objectivity is an individual attribute. A Certified internal auditor must be impartial, unbiased, and without conflict of interest.

This domain makes up 18% of part 1 of the CIA exam and is tested at the basic and proficient cognitive levels. The learning objectives are:

• Demonstrate due professional care.
• 2. Through continued professional growth, an individual internal auditor can demonstrate their competence.
• Acknowledge the expertise, abilities, and understanding needed to carry out the duties of the internal auditing activity.
• Exhibit the technical and soft skills in addition to the knowledge and abilities that an internal auditor must have in order to carry out his or her specific duties.

This domain makes up 7% of part 1 of the CIA exam and is tested at the basic and proficient cognitive levels. The learning objectives are:

• Describe the essential components of the quality assurance and improvement programme.
• Describe the requirement of reporting the result of the quality assurance and improvement program to the board or other governing body.
• Identify appropriate disclosure of the conformance vs. nonconformance with the IIA's international standards for the Professional Practice of Internal Auditing.

This domain makes up 35% of part 1 of the CIA exam and is tested at the basic and proficient cognitive levels. The learning objectives are:

• Describe the concept of organizational governance.
• Recognise the impact of organisational culture on the overall control environment and individual engagement risk and control.
• Recognise and interpret the organization's ethics and compliance-related issues, alleged violations and dispositions.
• Describe corporate social responsibility.
• Interpret the basic ideas of risk and the risk management method.
• Describe the globally accepted risk management framework appropriate to the organization.
• Examine the efficacy of risk management across processes and functions.
• Recognise the appropriateness of the internal audit activity's role in the organization's risk management process.
• Apply internationally admitted internal control frameworks that are appropriate for the organisation.
• Examine the effectiveness and efficiency of internal controls.
• Interpret internal control principles and control varieties.

This domain makes up 10% of part 1 of the CIA exam and is tested at the basic and proficient cognitive levels. The learning objectives are:

• Interpret fraud risk and types of fraud and determine whether fraud risks require special consideration when conducting an engagement.
• Assess the possibility of fraud and how the organisation recognises and handles fraud risk.
• Suggest fraud prevention and detection procedures, as well as education to raise fraud awareness within the organisation.
• Recognise methodologies and internal audit positions associated with forensic auditing.

Through these comprehensive learning objectives, the CIA Part 1- Essentials of Internal Auditing course not only educates individuals on fundamental principles but also equips them with the necessary tools to excel in the dynamic field of internal auditing. By equipping participants with the requisite knowledge, skills, and ethical principles, it empowers them to navigate the complexities of modern business environments effectively and contributes to the integrity and accountability of organizational practices.