The International Standards for the Practice of Internal Auditing (Standards) require internal auditors to enhance their knowledge, skills, and other competencies through continuing professional development. This requirement helps ensure that internal auditors remain competent in the growing and dynamic profession of internal auditing. In addition to that, those who have obtained a professional certification/qualification through The IIA (henceforth referred to as “certified individuals”) are required to obtain continuing professional development.
MY-CPE LLC offers Continuing Education courses for Certified Financial Services Auditors (CFSA). MY-CPE LLC has effectively met the standards set up by The Institute of Internal Auditors (IIA) so all myCPE courses are eligible for IIA Credits. We are focused on providing quality continuing education to Certified Financial Services Auditors (CFSA) that incorporates the qualified subject areas. Our CPE courses are authored/reviewed by industry specialists and subject matter experts. All our courses are designed in a way to ensure that courses meet your continuing education requirements.
CERTIFIED FINANCIAL SERVICES AUDITORS (CFSA) CPE REQUIREMENT OVERVIEW
|CPE Requirements||20 hours for practicing CFSAs and 10 hours for Non-practicing CFSA.|
|License Renewal Period||Renew your license by December 31st each year|
|CPE Reporting Cycle||The reporting period is from January 1st to December 31st each year.|
|Ethics Requirement||2 hours on the subject focusing on Ethics|
The number of annual CPE hours required varies depending on the certification/qualification held and whether the certified individual is practicing or nonpracticing. Practicing CFSAs are required to complete 20 hours of CPE hours during their re-certification cycle while Non-practicing CFSAs are required to complete 10 CPE hours during their recertification cycle.
For individuals who hold multiple certifications/qualifications, the CPE hours earned for the CCSA, CGAP, CFSA, CRMA, and QIAL may be applied toward their required CPE hours for the CIA. In other words, if a practicing individual holds both the CIA and CRMA, and completes 40 hours of training related to internal auditing and risk management assurance, those hours can be used to satisfy the CPE requirements for both the CIA and CRMA. Many of our programs in Live and Self-Study are approved for continuing education for Certified Financial Service Auditor (CFSA) Professionals.
CFSAs are required to complete 2 hours of training on Ethics annually. The IIA does not prescribe where an individual must obtain this training.
Renewal of Certified Financial Services Auditors (CFSA) is on or before December 31st every year.
The reporting period is from January 1st to December 31st each year.
Here is a link to the IIA website to access FAQs on CPE Requirements and Regulations for Certified Financial Services Auditors (CFSA).
Following are the subject areas for CFSAs to qualify for CPE:-
For detailed information, please CLICK HERE.
There are no minimum CPE requirements in a particular subject area.
For detailed information on qualifying learning activities, please CLICK HERE.
The license can be renewed by payment of a renewal fee of $ 270 for US Members. For Canadian members, renewal fees are $ 280.
CLICK HERE for more details.
Certified Financial Services Auditors (CFSA) can complete 100% of the total required CE credits hours via self-study courses. i.e., CFSAs can complete CPE hours via self-study courses from NASBA-approved CPE sponsors as myCPE is approved by NASBA. MY-CPE LLC has effectively met the standards set up by The Institute of Internal Auditors (IIA) so all myCPE courses are eligible for IIA Credits.
Individuals who do not complete their CPE reporting form on or before 31 December will automatically transition from certified to an inactive (grace period) status. Individuals who remain in an inactive (grace period) status for more than 12 months will automatically be transitioned to inactive status.
For more information, please CLICK HERE.
New CFSAs are awarded 40 CPE hours. Half of the awarded CPE hours (20) are for the year in which the exam is passed, and the other half is for the subsequent year.
Certified individuals report their CPE hours by submitting a CPE reporting form before December 31 annually, which serves as a signed statement that all applicable CPE requirements have been met. A separate CPE reporting form is required for each certification held. In addition to reporting their completion of the required CPE hours, as stated earlier, certified individuals must indicate whether they conform with the Standards and attest to their conformance with The IIA’s Code of Ethics.
Certified individuals must maintain a copy of all supporting documentation as well as the CPE reporting form(s) they submitted for at least three years, and records must be made available to The IIA or its designee upon The IIA's request. The records maintained by the individual must include the following information, as appropriate:
myCPE provides courses that are approved for continuing education credits by NASBA. Based on the guidelines issued by these boards regarding Continuing Education Requirements, we recommend the programs/ webinars to be suitable for NASBA specified in each webinar. However, it will be the responsibility of each attendee to ensure that they are eligible for the Continuing Education Credits based on their occupation/ job profile, knowledge requirements as well as guidelines laid down by their regulatory board before registering for the webinars.
CLICK HERE to view the IIA website for CPE requirements for Certified Financial Services Auditors (CFSA).
|National Association of State Boards of Accountancy (NASBA)||143597|
|Internal Revenue Service (IRS)||GEHNZ|
|California Tax Education Council (CTEC)||6273|
|Certified Financial Planner Board (CFP)||8061|
|Society for Human Resource Management (SHRM)||RP5359|
|Human Resource Certification Institute (HRCI)||714694|
|American Payroll Association (APA)||372961|
|Texas State Board of Public Accountancy (TSBPA)||010556|
|Illinois Department of Financial & Professional Regulation (IDFPR)||158002756|
|New York State Board of Public Accountancy (NYSPA)||002976|
|Courses Eligible for CPE of Certified Fraud Examiner (CFE)||Approved|
|Courses Eligible for CPE of Certified Valuation Analysts (CVA)||Approved|
|Institute of Finance and Management (IOFM)||Approved|
|Society of Trust and Estate Practitioners (STEP)||Approved|
|Certified Senior Advisor (CSA)||Approved|
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