While not legally required in all industries, most employers require internal auditors to hold at least a bachelor’s degree in accounting, finance, or a related field. While not strictly mandatory for entry-level roles, earning the Certified Internal Auditor (CIA) designation is considered the gold standard for professional advancement.
Requirements to Become a Certified Internal Auditor
To become a Certified Internal Auditor (CIA), one must meet the following requirements: Education – Hold a Bachelor's degree or higher, possess an active Internal Audit Practitioner designation, or have five years of internal audit experience.
Internal auditor requirements
Most employers require internal auditors to earn at least a bachelor's degree. The degree focus can be in accounting, finance or a related field. Some employers prefer to hire candidates with a master's degree in accounting or business administration with a concentration in accounting.
To be eligible, you must have one of the following: A degree in any subject. Five years' experience in internal audit, risk or compliance.
While internal auditors do not need specific certifications to work professionally, employers may seek candidates with credentials. These certifications may include the general certified internal auditing (CIA) credential or the more advanced certification in risk management assurance (CRMA).
Internal Employees: As per Rule 13, Companies (Accounts) Rules, 2014, Companies can appoint a qualified employee with relevant experience to serve as the internal auditor. Statutory Auditor: A statutory auditor cannot be an internal auditor as per Section 144(b) of the Corporations Act 2013.
The pass rates hover between 40-50% meaning on average, more candidates fail the exam than pass. Since a career as a CIA requires a sophisticated and technical skill set, this exam is intentionally difficult. Don't let that discourage you! If you do fail any portion of the test, not all hope is lost.
The CIA exam costs about $740-1,515 depending on your IIA membership status. The CIA exam is offered around the world via Pearson VUE testing centers. A CIA exam review course can help you earn a passing score. Candidates have a maximum of three years to pass the exam and meet all exit requirements.
Is CIA harder than CFA? No, the CIA is considered easier compared to the CFA course because it addresses some of the significantly challenging financial topics.
Essential Internal Audit Skills
You can work on an audit without being a CPA. Many firms outsource and/or hire interns to do parts of the audit. These guys don't always have a CPA. The audit report needs to be signed by a CPA (or CPA firm, which should require that partners are CPAs).
While AI can automate many routine tasks, its primary benefit is enhancing what auditors do—enabling deeper, broader, and more frequent analyses. Rather than replacing auditors, AI should be seen as a tool that allows auditors to do more valuable, strategic work.
Based on Career Goals
CIA Certification Salary in India
The CIA certification has great potential to increase the earning capacity of internal auditors and finance professionals. In the case of Freshers, who will have a CIA certification, the salary will start between 6-10 lakh per year, depending on the organization and the location.
While ZipRecruiter is seeing annual salaries as high as $120,000 and as low as $33,500, the majority of Entry Level Internal Auditor salaries currently range between $59,500 (25th percentile) to $90,000 (75th percentile) with top earners (90th percentile) making $108,000 annually across the United States.
Mental health is a topic that employers in many sectors are keenly aware of these days, but one group that tends to get overlooked unfairly is internal auditors. The field of internal audit can be demanding and stressful.
Career Goals: If you want a wide range of finance and accounting roles, ACCA is the better choice. If your passion is internal auditing and risk management, CIA is more suitable. Time Commitment: Choose ACCA if you're ready for a longer study period (3-4 years).
CIA disqualifiers center on honesty, integrity, and adherence to U.S. law, with major red flags including recent drug use (especially marijuana), criminal activity, lack of candor (lying/omitting info), serious financial issues, and association with criminal/subversive groups; overall, a history of poor judgment, untrustworthiness, or disloyalty to the U.S. can lead to disqualification, emphasizing a need for complete honesty throughout the background investigation.
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