How are you celebrating International Internal Audit Awareness Month this May?
“family doctor,” “process police” – these are just some of the names
used to describe the Internal Audit (IA) role. By providing an objective
assurance of a company’s control, governance and risk management
processes, the IA function plays a vital role in ensuring its continued
May, SAC and the Institute of Internal Auditors Singapore bring you a
series of profiles of leading IA practitioners. Learn more about this
essential role, the value of high-quality IA and how it contributes to
the ultimate success of companies.
Champions of Change
Read about how Eric Lim, President of IIAS started his career as a budget analyst and eventually became Head of Internal Audit at DSO National Laboratories. Click here for the full feature.
The value of high-quality Internal Audit
With over two decades in the field of internal audit (IA), Ms Marie Ong
Shwu Fen has seen the field undergo numerous exciting developments.
What hasn’t changed is her enthusiasm for her role; as the Assistant
Vice President of Group Internal Audit at a locally-listed company, Ms
Ong now helps to manage a seasoned IA team for a company with a range of
global operations and projects. As part of our spotlight on IA
professionals for International IA Awareness Month, she shares with us
the most fulfilling aspects of her job and how internal auditors can be
“nice policemen.” Read the full feature here.
President's Message - May 2013
The month of May is Internal Audit Awareness Month. It is a special
opportunity to honour the profession by building awareness and elevating
its visibility in the business community on Internal Audit’s role in
organisational governance, internal control, and effective risk
management. Throughout this month, IIA Singapore is collaborating with
its key partner, the Singapore Accountancy Commission (SAC) to highlight
contributions of five Internal Audit professionals through featured
interviews. Look out for these special interviews on our LinkedIn and
Facebook pages, featured each Friday until the end of this month.
As an internal audit professional, you can play the role of an
ambassador in promoting awareness of the value you contribute to the
organisation. As part of an audit team, or even as a sole practitioner,
you too can help to spread internal audit's value-adding role and its
special position in the organization. The IIA has launched a Building
Awareness Toolkit which internal auditors like yourself can refer to for
ideas on how to promote and elevate the awareness of the role of
Internal Audit here in Singapore.
As part of our Institute’s objective to enhance the professional status
of internal auditing in the region, we organised our very first Public
Sector Internal Audit Conference last April. During the event, Minister
of State Josephine Teo called on public sector agencies in Singapore to
make better use of internal audit to strengthen their governance and
decision-making processes, where “As internal auditors, you have the
duty of helping your organisations stay vigilant. You must ensure that
internal controls evolve in tandem, remain robust and yet at the same
time, avoid becoming unnecessarily onerous.”
I would also like to add that it is essential for the internal
audit activity to remain effective in providing assurance on the process
in preventing and detecting fraud relating to resources, as IPPF’s
Implementation Standard 2120.A2 states: The internal audit activity must
evaluate the potential for the occurrence of fraud and how the
organisation manages fraud risk. Additionally, the standards call for
internal auditors to exercise due professional care by considering the
probability of significant errors, fraud, or non-compliance
(Implementation Standard 1220.A1). For us to stay relevant, it is vital
that we demonstrate the value we bring to the organisation through our
knowledge of fraud risk.
On a separate note, the Institute has recently arrived at two major
milestones: we have, for the first time, reached SGD1 million in revenue
this financial year, and as such, IIAS has become a GST-Registered
entity. Secondly, we completed an office move to 6 Shenton Way, Tower
One, #41-04 where our Secretariat team is now based to serve you better.
We hope to see many of you visiting our Institute regularly.
Our advocacy efforts to raise the visibility of the internal audit
profession is ongoing. In June, IIAS and the Singapore Institute of
Directors will be holding a joint event for its members and the public
on Using Control Self-Assessment in creating a Self-Accountable
Organisation Culture. The speaker, Don Espersen, will also have a
session on what the Audit Committee should expect from its Chief Audit
Executive. It is part of our goal to educate the Audit Committee on the
benefits of Control Self-Assessment as well as the CAE's role and I look
forward to meeting you and your AC members at the session on 5 June.
Announcement: IIA Singapore is GST Registered
Moving forward, The Institute of Internal Auditors Singapore is a GST registered business entity and all transactions will be subject to the prevailing GST rate of 7%.
This applies to all goods and services rendered by the Institute and will take effect from 1 May 2013 onwards.
Should you have any questions, please contact us at +65-6324 9029 or email firstname.lastname@example.org
President's Message - April 2013
Effective communication has been a perennial challenge for internal auditors.
A recent paper by IIA and Robert Half in 2013 on “Succeeding as a 21st
Century Internal Auditor” listed Communications as being one of the
seven prized attributes of highly effective internal auditors.
are of vital importance but need to be complemented with effective
communication skills to render internal auditors valuable.
CAE of Raytheon, quoted aptly in this paper, that “Soft skills are the
new hard skills”. The internal auditor of the future must be able to
build highly collaborative relationships with all levels of business,
communicate effectively and inspire trust to raise the bar of internal auditors.
provide our internal auditors with new
mindset and progressive thinking, the theme for this year’s IIA
Singapore Annual Conference is: “Breaking Barriers, Building Bridges”.
This theme captures a key essence of our profession's evolving needs and
we are crafting a conference programme that will prepare our internal auditors for the road ahead.
We are honoured to welcome our first illustrious keynote speaker
Professor Mervyn King to the conference. Professor King is Chairman of
the King Committee on Corporate Governance, the committee that issued a
ground-breaking code of corporate governance in South Africa. Since our
first announcement, I am pleased to observe that many in the profession
express keen interest to participate. This is a strong demonstration of
your commitment as internal auditors to stay relevant and meaningful to
the stakeholders we serve.
separate note, I take this opportunity to congratulate our
collaborator, the Singapore Accountancy Commission (SAC), on their
official launch on 1 April 2013. The formation of the SAC is a
significant milestone in the development of the accountancy sector in Singapore.
The development of specialisation pathways in internal audit was
highlighted in one of the key recommendations in the CDAS final report
and we will continue to work closely with the SAC to bring heightened visibility to our internal auditing profession.
President, IIA Singapore
President's Message - March 2013
As internal audit
professionals, accountability for our Continuing Professional Development rests
with us. Standard 1230 of The IIA's International
Standards for the Professional Practice of Internal Auditing call for internal auditors to enhance their
knowledge, skills, and other competencies through continuing professional
Notwithstanding the Standards, our passion for our profession should motivate
us to pursue the competencies needed to add value to our organisations.
Expectations from the Board, management and other stakeholders are ever
increasing; while uncertainties and risks in the evolving business environment
regularly demand our attention. To stay relevant, internal auditors
should religiously carve out time for training, with Chief Audit Executives playing a key role in
supporting and facilitating training opportunities for their staff.
IIA Singapore has
developed a learning and growth roadmap that outlines the development
programmes available for staff as they progress through the organisation,
addressing both hard and soft skills. The roadmap in IIA Academy can be used as
a guide for personal and staff development. Along with your development
pathway, 2013 will see IIA Singapore providing two highlights for the year
featuring thought leaders around the region:
· Our inaugural Public Sector Internal Audit
Conference (23-24 April) where international and local speakers will share best
practices on public sector governance and lessons on how to drive excellence in
public sector internal audit practices.
· Our signature Annual Conference themed “Breaking Barriers,
Building Bridges” which will ignite and inspire us to work and communicate
better within our teams, organisations and stakeholders.
These two key events
promise to be both engaging and interactive and I urge everyone who puts their
professional development first to attend.
5 February 2013
Report highlights that revised Corporate Governance Code is generating greater awareness of internal controls and risk management amongst Board members
In October 2012 ACCA (the Association of Chartered Certified Accountants) and IIA Singapore (The Institute of Internal Auditors Singapore) held a high level round table discussion to discuss the potential impacts that businesses would face after the MAS (Monetary Authority of Singapore) revised the Code of Corporate Governance. In particular the discussion focussed on how changes in the Code would affect the roles of the Chief Executive Officer, Chief Financial Officer, directors, internal auditors and other stakeholders with a special focus on risk management.
The report Risk Management under the New Corporate Governance Code - Expectations and Deliverables was released on 5 February 2013 at a special launch event organised by ACCA and IIA Singapore.
Download the full report
Feb: ACCA-IIA Singapore Roundtable: The Code of Corporate Governance
changes increase demands on Directors - Small Cap Companies need more
support and assistance
BusinessTimes 6 Feb: ACCA-IIA Singapore Panel - Leave operational risks to COOs
President's Message - February 2013
Chinese New Year is always a time to spring clean our homes, as we usher in a fresh year and a new slate. Debts are settled and old arguments are forgiven as we look to a new start of health and prosperity.
These are exciting times. The Government has just released the Population White Paper: A Sustainable Population for a Dynamic Singapore. As internal auditors, we are challenged to think strategically about the opportunities (or threats) that await us in the coming years with this eventual growth. Businesses will need to be more innovative and efficient and internal auditors would need to evolve together with their organizations. It is imperative that we think forward and reposition ourselves in order to stay relevant in this century. Martin Luther King Jr put it aptly when he said, "Our very survival depends on our ability to stay awake, to adjust to new ideas, to remain vigilant and to face the challenge of change."
As an internal auditor, you are expected to portray independence, integrity and professionalism in your work; while displaying in-depth knowledge of your client’s business and its strategic objectives. As leaders, you have a duty to identify key skills and competencies that your team needs to stay competitive. This February, IIA Singapore is doing our part by bringing in Dr. Dan Kneer, voted “Americas #1 trainer of auditors” to deliver a series of seminars from February 26-28 on statistical sampling, IT risk and MS Access for internal auditors in Singapore. With an Audit Practice Career of over 30 years, Dr. Dan believes in "AUDITING SMARTER, NOT HARDER". Dr. Dan has also been rated the #1 speaker at four IIA International Conferences, most recently in Atlanta, 2010.
In 2013, IIA Singapore has been moving steadily ahead on student membership talks at universities and last month we were at Singapore Management University delivering an evening talk on internal audit career prospects. As part of student membership benefits, IIA Singapore strives to link internship opportunities among our member organizations with these students on a regular basis, in the hope that exposure to the profession will spark an interest in them to further their careers as internal auditors.
Last but not least, while we are still in the midst of the Lunar New Year, which is always associated with P.A.P. (Prosperity, Abundance and, Peace), I take this opportunity to wish you all better prospects in P.A.P. (Pay and Promotion) in the new year as well!
President's Message - January 2013
January 2013 President's Message
As we begin this New Year, allow me to wish all members a very rewarding year ahead. I trust each IIA Singapore member had a good break and is recharged for the New Year.
At the start of each year, it is a time for us to plan our
professional career development and training needs. I strongly urge
members who have yet to become Certified Internal Auditors (CIA®) to become
certified, as well as consider obtaining our other specialty
certifications like CCSA®, CRMA®, CFSA® and CGAP® in order to advance your career and enhance your ability to help your organization achieve its objectives. Your continuing professional development is of utmost importance to us and it is in this regard that IIA Singapore set up the IIA Academy, providing a continuing stream of training courses to help bolster the skills of our members. Take the opportunity to learn and lead in your organizations.
I am also happy to announce that we are organizing a Public Sector Internal Audit Conference for the first time on 23-24 April 2013. IIA Singapore is welcoming international speakers to the stage and these renowned speakers will be sharing their experiences and success stories with us. We look forward to meeting you at this inaugural conference.
On January 1st, 2013, the newly revised International Standards for the Professional Practice of Internal Auditing (Standards) took effect. The Standards are mandatory guidance under the International Professional Practices Framework (IPPF) and they are critical because they delineate basic principles that represent the practice of internal auditing. I would like to members to take note that conformance with the Standards is required and essential for the professional practice of internal auditing.
On a lighter note, some of our members attended our Christmas networking event in December at the St. James Powerhouse Station where the winner of the IA Excellence Award shared his department's best practices at DBS Bank. Members also had the opportunity to meet a Singapore Paralympic who shared her inspiring life story. I was personally pleased to see so many new members among us who came especially for networking opportunities and I would strongly urge all members to attend our upcoming events this year to meet like-minded people in your profession.
Once again, let me wish you and your family good health, peace and happiness in the New Year.
President's Message - December 2012
With the arrival of the New Year, it is an opportune moment for many to reflect on our own lives, count our blessings and make new resolutions. At the Institute, we too have reflected on our progress this year, taking stock of the goals we have set for ourselves and the accomplishments we have made towards these goals. As we continuously attract memberships and grow the number of certified internal audit professionals in Singapore, we are committed to provide members with quality service that will aid them in their work and career development. Our focus will be to develop the professional status and skills of the profession.
One of the key highlights for The Institute of Internal Auditors this year was the introduction of the Certification in Risk Management Assurance™ (CRMA®) by the IIA. At IIA Singapore, we have seen many of the internal audit professionals taking advantage of the Professional Experience Recognition period to submit their applications before the exam commences in mid-2013. IIA Global also recently announced the 5,000th professional being awarded the CRMA designation. The warm reception of this new certification by both the global and local professional internal audit community testifies the growing importance of risk management assurance under our IIA brand.
Year 2012 also saw an increase in outreach to students at local universities to raise awareness and share about career opportunities in the IA profession, as well as the benefits of student membership. In mid-November, the Immediate Past President of IIA Singapore spoke to more than 150 accounting and finance students at UniSIM with an interesting take on internal audit careers, entitled “Anonymity, Trust, Revenge and the Internal Auditor”.
The year has also been a year of increased event collaborations with our affiliates. Last month, we hosted a talk together with CPA Australia by Rajah and Tann lawyers Rajesh Sreenivasan and Lionel Tan on the new Data Protection Bill and Social Media Risks for Auditors. We also hosted a joint seminar with ACCA on “Practical and Legal Considerations to Investigate Allegations of Fraud from the Perspective of a Board, CEO, CFO and Head of Audit” which was conducted by CK Cho. IIA Singapore was also part of a team of supporting partners for the first International Accountants’ Day celebrated in Singapore on November 8th. Moving forward, we are also exploring collaborations with other affiliates to create exciting professional development sessions for our members in the coming year.
On behalf of the Board of Governors and Secretariat team, we wish to express our appreciation for your cooperation, support and contributions in our IIA activities. We wish each of you a very successful year ahead and may your professional and personal dreams come true in year 2013.
President, IIA Singapore
President's Message - November 2012
Time flies by us rapidly. Another month has passed and the festive season is around the corner.
To date there are almost 5,000 certified internal audit and risk management professionals from over 100 different countries who have taken advantage of the Professional Experience Recognition (“PER”) period for IIA Global’s latest certification: The Certification in Risk Management Assurance (“CRMA”).
By the end of the year, it is likely that the CRMA will be the second most widely-held internal audit related certification in the world – behind only the CIA. To date, Singapore has 13 CRMAs and numerous applications in the pipeline. I would like to take this opportunity to congratulate these CRMA professionals and encourage those in the process of applying to hand in their applications by 1 December to the Secretariat.
Another key development this year was the revisions to the International Professional Practices Framework (“IPPF”) which will take effect in January 2013. Last month we saw over 200 members attend two complimentary evening talks on the IPPF revisions by our Past President Tan Peck Leng. Some of the key areas covered include Responsibilities for Conformance, Quality Assurance, and the CAE's role to communicate unacceptable risk. For those who missed the talks, the presentation slides are available for downloads.
IIAS has been faithfully organising roundtables for members throughout the years on key developments in the industry. This month, both IIAS and ACCA jointly organised a roundtable on Oct 18 to shed some perspective on the new governance code. Industry leaders from Ernst and Young, KPMG, Rajah & Tann, Tricor, SAICSA, CGIO and Chief Audit Executives from SMRT and UOB were at the roundtable to discuss, share and provide views on Risk Management under the New Corporate Governance Code –Expectations & Deliverables. The key takeaway points will be documented in a report for distribution in January 2013.
This month we were also paid a visit by internal auditors of the Central Coordinating Agency, Ministry of Finance, Bhutan. We conducted a 2-day training for them at the IIAS office to assist them in strengthening their internal audit function. Next month, we are planning a membership night for members and friends. I would like to take this opportunity to invite all of you to join us and exchange ideas with your peers. I would also encourage all the new members who have joined us this year to attend and meet your fellow members. It is only because of your faithful support that IIAS can continue to grow as a strong advocate for our profession as the years go by.
President, IIA Singapore
President's Message - October 2012
For the second year running, The Institute of Internal Auditors Singapore, Securities Investors Association (Singapore) and Singapore Management University have jointly collaborated to present this year's Internal Audit Excellence Award at the SIAS 13th Investor Choice Awards 2012 held last night.
The objective of this award is to promote greater awareness of the importance of an effective internal audit function in Listed Companies. This award recognises companies that have put in place an effective Internal Audit Function to enhance corporate governance, risk management and assurance.
IIA Singapore heartily congratulates the following winners:
Winner of the Internal Audit Excellence Award: DBS Bank Ltd
Runner-up: Singapore Airlines Ltd
Runner-up: Cerebos Pacific Ltd
Merit Award: Oversea-Chinese Banking Corporation Ltd
Special Recognition Award: Mr. Lim Him Chuan, Managing Director and Head of Group Audit, DBS Bank Ltd
Another milestone initiative by IIA Singapore this month is the offering of student memberships at $20 per annum. Via this initiative we hope to create opportunities for university students to understand what the profession is all about through our resources, and interest them to pursue a career in internal auditing upon graduation. It is our long-term strategy to cultivate a pipeline of future internal auditors for our members and the profession. We hope you as members can be our ambassadors to spread the word of this initiative.
We hope to provide on-going quality services to members. If you haven’t noticed already, all corporate members have been issued individual passwords that grant access to the IIA Global website. The website is one of our member benefits and is rich in internal audit resources to help members carry out their work better.
One the regional front, last month, the IIA Singapore Secretariat office was paid a learning visit by a group of more than 20 auditors from Jiangsu Province, China. They had contacted us with interest in our membership and certifications, and they also asked about internal audit practices in Singapore. The President and one of our Governors, Hwee Tin, were here to host them.
On the global front, the IIA International Internal Audit Standards Board has released revisions to the Standards this month. The new Standards will be effective January 1, 2013. To keep our members up to date with the revisions, we have organised a complimentary evening talk on Oct 11th. Special thanks to our past president, Tan Peck Leng who will be presenting the revisions to our members.
And finally, on a lighter note, IIAS and ACFE are collaborating to hold a networking event for members in the form of a whiskey-tasting session on Oct 12th at Senso Ristorante. We will be organising more social events in the future and we hope to see you!
President, IIA Singapore
Announcing the Revisions to the Standards
The IIA International Internal Audit Standards Board (IIASB) publicly exposed changes to the International Standards for the Professional Practice of Internal Auditing (Standards) from February 20 to May 20, 2012. After reviewing and analyzing the responses and comments from individuals and organizations around the world, the IIASB has approved the final changes to the Standards.
The IIASB is now releasing revisions to the Standards following the consideration and approval of the Standards-setting due process by the International Professional Practice Framework Oversight Council (IPPFOC). The new Standards will be effective January 1, 2013.
The IIA will be hosting two sessions of Global Web Broadcast (a webinar format) on 8:00pm – 9:00pm US Eastern Time, October 23, and 10:00 am – 11:00am US Eastern Time, October 24 to review the changes to the Standards. The Broadcast is free to the public, but pre-registration is required. Please visit https://global.theiia.org/standards-guidance/mandatory-guidance/Pages/Standards.aspx to view the revised Standards and register for the global web broadcast.
Conformance with the Standards is required and essential for the professional practices of internal auditing! Questions related to the Standards should be sent to email@example.com.
please click on the links for more information
International Internal Auditing Standards Board
The Institute of Internal Auditors
*Please note, as your local Institute, we have organised a complimentary member talk on the revisions to the Standards taking place next week on 11 Oct, Thurs. Seats have reached maximum capacity, and for information on when the next run will be, please drop your name, organisation, designation, membership ID and mobile no. to firstname.lastname@example.org
President's Message - September 2012
August 29th, 2012 was a significant day for IIA Singapore. A Memorandum of Understanding was inked between The Pro-Tem Singapore Accountancy Council ("SAC") and IIA Singapore ("IIAS") during the IIA Annual Conference and Leadership Forum at the Resorts World Sentosa Convention Centre. Under this MoU, SAC and IIAS will jointly develop and roll out a new post-university certification programme designed for internal auditors.
The programme aims to provide a structured training pathway for aspiring internal auditors and advance the career of existing professionals for leadership roles in their organisations. A Working Committee has been formed to develop the Asian-flavoured programme and it is planned for launch in April 2013.
Another notable moment was our 2012 Annual Conference and Leadership Forum held last week. The event was a resounding success with a record high participation from our members this year. Thought leaders and members had a good exchange of ideas and sharing during this event and we received so much positive feedback from you. The Guest of Honour, esteemed speakers and panellists as well as our conference organising committee all played a crucial role in contributing to the event's success. We look forward to serving our members even better in our 2013 conference.
I am on my third week of my first term as President of IIA Singapore and I am looking forward to work with the Board and the IIAS management team to build on the good foundation which has already beenlaid down by the previous Boards.
Our key focus in the coming year is to deliver premier services to our members. For the coming FY, we will work on 3 key areas,
a) Our IIA Academy Education Programmes
b) Our Member Resources
c) Our Service Quality at the IIAS Secretariat
Of vital importance is your feedback to us. We look forward to your input on how we serve your needs as a member and as an internal auditor in bringing our profession forward this coming year.
President, IIA Singapore
CIA (Parts 1,2, and 3) Testing to resume in Pearson Vue Test Centre in Singapore effective 15 August, 2012
Testing of the CIA (Parts 1,2, and 3) will resume in Singapore effective 15 August 2012.
All candidates directly notified during the initial suspension have been notified directly by IIA Global on 10 August, 2012. Candidates will be able to reschedule exams starting on 10 August, 2012. However, candidates will not be able to schedule an appointment to sit for the exam until 15 August, 2012.
Candidates that had scheduled appointments in July and August of 2012 had their appointments cancelled automatically by Pearson VUE. Therefore they will need to log back into the Pearson VUE scheduling system to reschedule their exam.
The affected candidates will have their exam eligibility extended for 90 days to accommodate the inconvenience. This is a onetime extension offered to the impacted candidates.
Thank you for your understanding and support during the period.
36th Annual General Meeting ("AGM")
Please be informed that the 36th AGM of the IIA Singapore will be held on Monday, 13 August 2012 at M Hotel, Banquet Suite, Level 10, 81 Anson Road, Singapore 079908 at 6.30 pm.
We invite you to download the AGM Package and Financial Statements for the year ended 31 May 2012 from the links provided below:
IIAS AGM Package FY11/12
Financial Statements FY11/12
Members attending the AGM should email or fax the Attendance Form to reach us no later than 6 August 2012 to enable the necessary catering arrangements to be made.
CPE is facilitated through a self-certification process with the completion and reporting of required CPE hours on an annual basis.
The reporting deadline for Singapore members is by 1 December of each calendar year. CPE reporting by IIA members is free; non-members must submit a S$250 processing fee together with the CPE form and worksheet. IIA-certified professionals who fail to meet their CPE requirements by the reporting deadline will automatically be placed in inactive status and may not use their designation.
New CIAs are awarded 80 CPE hours; new CCSAs, CGAPs, CFSAs, and CRMAs are awarded 40 CPE hours. Half of the awarded CPE hours (40 or 20) are for the year in which the exam is passed, and the other half are for the subsequent year.
As an IIA certified professional, you are responsible for ensuring that the CPE information in your report is accurate. You must include your membership or customer identification number when reporting your CPE.
Click on the respective CPE form and worksheet to file your CPE report:
CIA CPE Form 2012 (For Even ID)
CIA CPE Worksheet 2012 (For Even ID)
CIA CPE Form 2012 (For Odd ID)
CIA CPE Worksheet 2012 (For Odd ID)
CGAP CPE Form 2012 (For Even ID)
CGAP CPE Worksheet 2012 (For Even ID)
CGAP CPE Form 2012 (For Odd ID)
CGAP CPE Worksheet 2012 (For Odd ID)
CFSA CPE Form 2012 (For Even ID)
CFSA CPE Worksheet 2012 (For Even ID)
CFSA CPE Form 2012 (For Odd ID)
CFSA CPE Worksheet 2012 (For Odd ID)
CCSA CPE Form 2012 (For Even ID)
CCSA CPE Worksheet 2012 (For Even ID)
CCSA CPE Form 2012 (For Odd ID)
CCSA CPE Worksheet 2012 (For Odd ID)
CRMA CPE Form 2012 (For Even ID)
CRMA CPE Worksheet 2012 (For Even ID)
CRMA CPE Form 2012 (For Odd ID)
CRMA CPE Worksheet 2012 (For Odd ID)
Please call IIAS Secretariat at 6324 9029 or e-mail email@example.com for further assistance.
If you're looking for ways to obtain your CPE Hours, check out these possibilities.
Certified Internal Auditor® (CIA®)
Certified Government Auditing Professional® (CGAP®)
Certified Financial Services Auditor® (CFSA®)
Certification in Control Self-Assessment® (CCSA®)
Certification in Risk Management Assurance™ (CRMA™)
When you are in a race, you look forward to the finishing line, hoping that you will be the first to cross the line. And after receiving your prize, do you look forward to the next race, or was it all about finishing the race?
As President, I have had the opportunity to serve members, work with the ever-willing Board of Governors and the many friends of IIA Singapore. When I began my term three years ago, I set out a few challenging strategic objectives. One of these was advocacy of the internal audit profession. Building on the efforts of past Presidents and Governors, I truly believe that internal auditors in Singapore are more well-regarded than ever. However, the objective of growing our membership by 50% has not been achieved yet, and I hope that your new President can reach this target. Our AGM is on 13 August 2012 and I will be seeking the advice of the Nomination Committee on the next Board of Governors.
As I complete the last few days of my third 1-year term, I would like to thank all IIA Singapore members for your support and Governors for their volunteerism. Where I have succeeded, it’s because of all of you. Where I have failed, your understanding is appreciated. Thank you members.
The last few days have also been an interesting journey. I am writing this just after completing 110km over 4 days in the Gobi Desert. As I ran past the last kilometer mark, I was already planning to return to the Gobi. Finishing the race was just an event. The new friends that I made, appreciating the logistics challenge of organizing the race and seeing the Gobi Desert with my own eyes are not events. They are part of the journey of life.
Your current membership will expire by 31 May 2012. On behalf of the Institute of Internal Auditors Singapore, we would like to thank you for your support during the year. With your support, the IIA Singapore has remained a thriving supporter of the internal audit profession in Singapore. Evidence of this is shown in our membership numbers - currently above 2,000, and the fact that we have 1,087th Certified Internal Auditor.
We would also like to take this opportunity to encourage you to continue to support the IIA by renewing your membership. As a member, you will continue to enjoy member discounts on annual conferences, seminars, training opportunities, networking events, certification, library resource as well as many other benefits to keep you up-to-date with current trends and developments in the internal auditing profession such as the Internal Auditor magazine.
Announcements were made earlier on the increase in membership fees to strengthen our financial reserves. The fee increase to S$150 was supported by a vote by members at the 2011 AGM. The increase will be effective from 1 June 2012 for existing members. To assist members in the transition to the new fee, a one-time S$50 training credit will be given to each member when they renew their membership. This credit can be used to offset against the fees for IIA Singapore training courses and must be utilized by 31 May 2013.
Though with the increase in the membership fee, our annual membership fee is still at an affordable rate as compared to other professional bodies in Singapore.
To renew your membership online, click the red "Login" button on our homepage located at the top right hand and key in your membership ID no. and password (the same set of password for your access to the Global website).
Online payment for membership renewal will be open from now until 30 July 2012. Membership not renewed by 31 July 2012 will be automatically terminated. Any renewal request received after 31 July 2012 will be treated as a new membership application and an application fee of S$20 shall apply.
Kindly call the Secretariat at Tel: 6324 9029 for any enquiries or assistance.
Once again, we look forward to your continuing support.
Wong Swee Chin
The Professional Certifications Board of The Institute of Internal Auditors (IIA) has announced the closing dates for the Professional Experience Recognition (PER) period for the Certification in Risk Management Assurance™ (CRMA®).
In North America (United States, Canada, and Caribbean): The PER period will close on 30 September 2012. PER candidates must have applied and paid the application fee by this deadline. All qualifying documentation must be submitted by no later than 31 October 2012.
Outside North America: The PER period will close on 31 December 2012. PER candidates must have applied and paid the application fee by this deadline. All qualifying documentation must be submitted by no later than 31 January 2013.
Individuals interested in obtaining the CRMA during the PER must achieve a minimum of 155 points on the application in the areas of education, certifications held, and experience in the five domains of CRMA. Additional information on CRMA PER requirements can be located on The IIA’s Global Website. The IIA has awarded the Certification in Risk Management Assurance through the PER process to more than 1600 individuals from over 75 countries. Administration of the CRMA exam will begin in the 3rd quarter of 2013.
IIA Singapore together with SID and RSM Ethos had jointly organized and conducted the above seminar on 8 May 2012 at the Marina Mandarin. The event was a success and attracted 102 participants mostly Directors and senior management level. Our President, Uantchern Loh, made his presentation on the International Professional Practices Framework (IPPF) – Achieving Effective Internal Audit. We are pleased to share his presentation slides with our members. Click here to download the slides.
IIA Singapore will be holding a 2-day Annual Conference from 29 – 30 August 2012 and a 1-day Leadership Forum on 31 August 2012. Both events will be held at the Resorts World Sentosa. The theme of our Conference is “Transforming Organisations Through Corporate Governance and Risk Management”. More details on the Conference and Leadership Forum will be made available soon.
Mark the dates on your calendar. We look forward to your participation and support.
Candidates able to submit proof of credentials in lieu of taking exam.
The Institute of Internal Auditors, Inc. (IIA) and IIA Singapore are pleased to announce the availability of the Professional Experience Recognition process for the newly developed Certification in Risk Management Assurance (CRMA). Candidates for the CRMA may submit proof of experience, related certifications, and education in order to receive the professional designation now in lieu of taking the certification exam that will begin being offered in June 2013.
The CRMA allows audit practitioners to demonstrate their ability to provide advice and assurance to audit committees and executive management on whether key risk management and governance processes in their organizations are in place and effective. The IIA recognizes that there are many internal auditors and risk management professionals who already have the requisite knowledge and experience worthy of the CRMA recognition and this opportunity allows them to lead the way in exhibiting their valuable expertise.
The Professional Experience Recognition process provides candidates an opportunity to accumulate points based on their:
||Active audit related certifications
||Professional experience within the five domains of the CRMA
||Assessing / assurance of risk management activities
||Risk management fundamentals
||Elements of risk
||Control theory and applications
||Business objectives and organizational performance
Candidates that accumulate a minimum of 155 points on their application will be granted the CRMA designation without having to sit for the CRMA exam.
The following are the fees for the CRMA PER application:
Application Fee (Non-Refundable)
|Candidate has ACTIVE CIA or CCSA certification status
|Candidate DOES NOT have CIA or CCSA certification status
Applicant must be a member of IIA in order to be eligible to apply for the CRMA PER.
To learn more about the CRMA and the Professional Experience Recognition processes, please click on the information provided below:
CRMA FAQ Document
CRMA PER Approved for “Other Certifications”
To apply, please download the application forms below:
CRMA PER Application Form
CRMA Professional Experience Recognition Verification Form
The application window end date has not been determined by The IIA at this time. Once it has been determined, IIA Singapore will notify candidates accordingly.
Please feel free to call the Secretariat at Tel: 6324 9029 for more information.
IIAS is driving a Charity Sale by selling "bottled plants". Each Bottle of Fresh Air is for sale at S$29.90 each. 50% of the proceeds from the sales will be donated to Shared Services for Charities Limited. Please click here to download the order form.
Let's come together for this good deed and make this Charity drive a success.
||John Crosby once said, “Mentoring is a brain to pick, an ear to listen and a push in the right direction.” Mentoring is a transfer of knowledge and experience from mentor to mentee and is designed to improve one’s skills, confidence and performance in the job. The success of coaching and mentoring is the establishment of an effective relationship based on mutual respect, honesty and understanding. If you aspire to develop your leadership and mentoring skills in the process and give back to the profession; or if you wish to learn from the best to increase your ability and develop your skills and knowledge, join the scheme now. Download mentor or mentee registration form.
We are now at 138 Robinson Road #18-08, The Corporate Office, Singapore 068906. Our telephone and fax numbers remain unchanged. We welcome you to visit the Secretariat and Library.
IIA Singapore has established the IIA Singapore Linkedin group. Linkedin is a professional networking site which allows members to create a profile with their work history, education and specialty. It allows members to connect with business partners, colleagues and friends. This builds a network which can be used to discuss subjects, look for business opportunities or employment. Linkedin has recently signed up their 50 millionth user and have a broad audience with 50% of the users being from the United States and the other 50% from other countries. Their last million users signed up within 12 days!
Linkedin allows creating groups of people around a specific theme. The Institute of Internal Auditors group is very succesful with over 10,000 members. IIA Singapore has created the “IIA Singapore Linkedin group”. This group will be open for all members of IIA Singapore and other affiliates of IIA Inc who have an affiliation with Singapore and prospective members of these. Membership will need to be approved by the administrator of the board of the IIA Singapore and is not open for headhunters and search firms at this time. You can use this group to discuss Internal Audit related subjects, post your available roles for free and network. You can find the group here:
With CBT being launched since May 2008, certification testing will be available on a year-round basis. This means that certification candidates will be able to take full advantage of computer-based testing anytime throughout the year.
The various certification forms are available for download as follows:
Attaining the Certified Internal Auditor® (CIA®) designation or obtaining one of the three IIA specialty industry certifications is the hallmark designation of internal auditing. The Certified Internal Auditor® designation is the only globally accepted and recognised certification for internal auditors and remains the standard by which individuals demonstrate their professionalism in the internal auditing field. Candidates are enriched with educational experience, information, and business tools that can be applied immediately in any organisation or business environment.
The Certified Financial Services Auditor® (CFSA®) measures your knowledge of audit principles and practices within the banking, insurance, and securities financial services industries. You can choose any one of these disciplines when taking the exam, regardless of your current occupational field. The CFSA is a respected certification for practitioners of financial services auditing.
CIA Exam Application Form
CIA Exam Reapplication Form
CIA Character Reference Form
CIA Work Experience Verification Form
CFSA Exam Application Form
CFSA Character Reference Form
CFSA Work Experience Verification Form
The Certfication in Control Self-Assessment® (CCSA®) designation is an esteemed certification for CSA practitioners. It measures your knowledge of important CSA fundamentals, processes, and related topics such as risk, conrols, and business objectives. It is the standard by which individuals demonstrate their comprehensive professionalism in the field.
The Certified Government Auditing Professional® (CGAP®) certification program is designed especially for auditors working in the public sectors and statutory boards. It is an excellent professional credential that prepares and qualifies you for the many challenges that you face in your work.
Regardless of which certification program that you choose, earning an IIA certification demonstrates your commitment to the internal audit profession.
CCSA Exam Application Form
CCSA Character Reference Form
CCSA Work Experience Verification Form
CCSA Validation of Facilitation Experience Form
CCSA Validation of Facilitation Training Form
CGAP Exam Application Form
CGAP Character Reference Form
CGAP Work Experience Verification Form
Candidates can take as many exam parts as they wish for CIA Certification. A candidate’s registration for the exam part(s) for CIA or Specialty exam will be valid for 180 days from the date the registration is approved, and the registration (exam part) fee is .
Candidates who do not pass an exam part must wait 90 days before being allowed to retest.