Changes to CIA CPE Requirement Policy for 2024

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Inside This Article

The Certified Internal Auditor (CIA) program offers professional certification for internal auditors. To keep the CIA program updated and relevant, the Institute of Internal Auditors (IIA) changes the requirements policy every year. Therefore, candidates for the CIA and certified individuals should be aware of changes in IIA CIA CPE Requirements policy for 2024.

Certified Internal Auditor Policy Change Effective 1 September 2023

Continuing in the tradition of upholding and maintaining the credibility of all IIA Certifications and aligning them with the best practices of the credentialing industry. The IIA's Professional Certifications Board (PCB) recently approved changes to the CPE Reporting Policy following this.

Key changes in CIA CPE requirements:

No limit to the number of CPE hours that may be carried over from one reporting cycle to another if there is a surplus of CPE acquired during the calendar year (20 hours for CIA and 10 hours for other IIA designations)

There has been an increase in the grace period from 1 year to 2 years.

Those who go three years without reporting CPE must know their certification will be revoked.

An individual with a "revoked" certification has no chance of regaining it - anyone with a "revoked" certification must retake the examinations to regain their certification.

Credential holders are strongly encouraged to report their hours annually to ensure compliance with the forthcoming changes to CPE policy. The deadline for reporting hours is 31 December in the year.

Actions:

Every year by 31 December, the required number of hours of CPE must be reported.
A certification that has been inactive for more than two years must be reinstated by 31 December 2024. Upon the expiration of the reinstatement period, reinstatement will no longer be available.

Reinstatement (will only be available before 31 December 2023)

The individual needs to follow the following steps to change his or her status from Expired to Active:

Comply with the CPE requirements for one year as part of your reporting obligation. CPE hours required for reinstatement may not be used to fulfill the reporting requirements for the current year.
If each certification or qualification you hold with an expired status needs to be reinstated, complete an application for reinstatement.
You will also need to pay an application fee for reinstatement.

Renewing CIA certification

The importance of renewing your certification on an annual basis is as follows:

As the risk landscape continues to evolve and develop, IIA certification holders must continuously enhance their knowledge, skills, and competencies by participating in continuous professional development to keep up with the ever-changing trends and practices.

The certification holder is required to renew their certification annually, and they must demonstrate their commitment to maintaining their knowledge current and to maintaining their skills sharp by recording the earned continuing professional education (CPE) credit hours during the year.

Eligibility of CIA CPE requirements:

The CPE requirements for CIA have increased due to the IIA clarifying the types of activities that may qualify for CPE credit in addition to the increased requirements. It is possible to participate in traditional activities, such as attending conferences and workshops, as well as more innovative ones, such as taking online courses, participating in webinars, and setting up a self-study program. As part of the IIA's expansion of the list of CPE activities eligible for certification, the IIA has also added activities that develop professional skills, such as leadership development and communication workshop classes, to the list of activities that qualify for certification.

Conclusion:

The changes to the CPE policy for the CIA program in 2024 are designed to ensure that CIA professionals maintain the highest standards of professional knowledge and skills. By increasing the CPE requirements, clarifying the types of eligible CPE activities, and implementing new measures to ensure the quality of CPE activities, the IIA is helping to ensure that the CIA program remains relevant and valuable to internal auditors around the world. Whether you are a CIA candidate or a certified individual, it is important to be aware of these changes and to take advantage of the opportunities they provide to further your professional development.

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FAQs:

What is the new certified internal auditor cpe requirements?

The new certified internal auditor education requirements are 40 hours per year, up from 20 hours in previous years.

What types of activities are eligible for CPE credit in 2024?

In 2024, eligible CPE activities include attending conferences and workshops, online courses, webinars, self-study programs, and activities related to the development of professional skills, such as leadership training and communication workshops.

How does the IIA ensure the quality of CPE activities for CIA professionals?

The IIA has implemented new measures to ensure the quality of CPE activities, including pre-approval of all CPE activities, strict criteria for evaluating the quality and relevance of CPE activities, and a system for verifying the completion of CPE activities.

How can CIA candidates and certified individuals keep track of their CPE activities in 2024?

The IIA introduced a new CPE record-keeping system in 2024, which allows CIA professionals to easily track their CPE activities and hours and provides a centralized repository for all of their CPE information.

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Imtiaz Munshi, CPA

CFO, AZSTEC LLC

The author Imtiaz Munshi is a Certified Public Accountant and CFO at Azstec, LLC. He is Business Strategist, Tax Planner, Entrepreneur and Advisor to "HNEs" (High Net Worth Entrepreneurs).