IIA-CFSA - Study Material - Certified Financial Services Auditor

The IIA Certified Financial Services Auditor (CFSA) examination is an assessment of the knowledge and skills required of a financial services auditor. The exam consists of 150 multiple-choice questions and requires a score of at least 70% to pass. The questions focus on the topics of auditing standards and practices, risk assessment, audit planning and execution, and internal control. The exam also covers professional ethics, communication, and other related topics.

The IIA-CFSA exam is a two-hour, multiple-choice exam consisting of 150 questions.

There are 150 questions in the IIA-CFSA exam.

The passing score for the IIA IIA-CFSA exam is a minimum of 450 out of 800.

The IIA-CFSA exam is designed for professionals with at least three years of experience in the field of Internal Audit. Candidates should possess a minimum of a bachelor’s degree or equivalent professional experience.

The IIA IIA-CFSA exam consists of multiple-choice and scenario-based questions.

IIA-CFSA exams can be taken both online and in testing centers. Online exams are administered through the IIA's ExamOne platform, while testing center exams are administered through Pearson VUE.

The IIA IIA-CFSA exam is offered in English only.

The IIA-CFSA exam costs $250 USD.

The target audience for the IIA IIA-CFSA Exam is internal auditors, risk managers, and compliance professionals who are looking to demonstrate their knowledge and skills in the field of financial services auditing.

The average salary for a Certified Financial Services Auditor (CFSA) is around $75,000 per year. However, the salary range varies depending on the experience and the employer.

The International Institute of Internal Auditors (IIA) is the official provider of the Certified Financial Services Auditor (CFSA) exam. Candidates must register and apply to take the exam through the IIA website.

The recommended experience for the IIA IIA-CFSA exam is three to five years of experience in financial services audit. This experience should include knowledge of financial services regulations, risk management, and internal control systems. Additionally, the candidate should have a good understanding of the IIA's International Standards for the Professional Practice of Internal Auditing.

The IIA-CFSA exam requires that candidates have a minimum of five years of professional experience in the field of internal auditing and/or a bachelor’s degree in accounting, finance, or related field.

The official website to check the expected retirement date of IIA IIA-CFSA exam is https://na.theiia.org/certification/cfsa/Pages/default.aspx.

The certification roadmap for the IIA IIA-CFSA exam is as follows: 1. Complete the IIA Certified Financial Services Auditor (CFSA) exam application and submit it to the IIA for approval. 2. Take and pass the IIA-CFSA exam. 3. Receive your IIA-CFSA certificate from the IIA. 4. Maintain your IIA-CFSA certification by completing the required continuing professional education (CPE) credits. 5. Renew your IIA-CFSA certification every three years.

The Certified Financial Services Auditor (CFSA) exam covers topics related to auditing and assurance services in the financial services industry. The topics include: 1. Auditing and Assurance Services: This section covers auditing standards, professional ethics, and the types of assurance services. 2. Risk Assessment and Internal Control: This section covers risk assessment and internal control concepts, including the COSO framework. 3. Financial Statement Auditing: This section covers the auditing of financial statements, including topics such as audit evidence, analytical procedures, and reporting. 4. Auditing Special Areas: This section covers auditing special areas, such as auditing related party transactions, derivatives, and investments. 5. Regulatory Environment: This section covers the regulatory environment, including topics such as the Sarbanes-Oxley Act and the Dodd-Frank Act. 6. Information Technology: This section covers information technology and its impact on the financial services

1. What is the purpose of the IIA's International Standards for the Professional Practice of Internal Auditing? 2. What are the five components of the IIA's Definition of Internal Auditing? 3. What are the main responsibilities of a Certified Financial Services Auditor (CFSA)? 4. What are the different types of risk assessment techniques used by CFSA? 5. How does a CFSA use the International Financial Reporting Standards (IFRS) to evaluate financial statements? 6. What are the key elements of the IIA's Code of Ethics for Certified Financial Services Auditors? 7. What is the role of a CFSA in identifying and addressing fraud risks? 8. What are the key elements of the IIA's Quality Assurance and Improvement Program (QAIP)? 9. How does a CFSA use the International Standards for the Professional Practice of Internal Auditing (ISPPIA) to conduct a financial audit? 10.

The IIA IIA-CFSA exam is considered to be of moderate difficulty level. It is designed to test the knowledge and skills of candidates who have a basic understanding of financial services auditing. The exam covers topics such as risk-based auditing, internal control, and data analytics. Candidates should have a solid understanding of the topics covered in order to be successful on the exam.