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Dear Members
Mark Twain, the famous American author, once told a story about one man’s search for the world’s greatest general. After an entire lifetime spent looking for the general, the man died without finding him. When he arrived in heaven, the man met an angel and said, “I am looking for the world’s greatest general.” The angel pointed to a common looking person and said “There’s your world’s greatest general.”
“That isn’t the world’s greatest general,” protested the man. “I knew that person when he lived on earth, and he was only a cobbler.”
“I know that,” said the angel, “but if he had been a general , he would have been the world’s greatest general.”
As internal auditors, we should all look out for cobblers who might have been great generals.
Loh Uantchern
President
IIA Singapore
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.
Thank you.
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:
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Education |
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Active audit related certifications |
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Professional experience within the five domains of the CRMA |
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Assessing / assurance of risk management activities |
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Risk management fundamentals |
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Elements of risk |
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Control theory and applications |
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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) |
$120
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| Candidate has ACTIVE CIA or CCSA certification status
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$500
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| Candidate DOES NOT have CIA or CCSA certification status
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$750
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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.
COSO has released the new ICIF Exposure Draft for comment. The comment period will run through March 31, 2012.
Global IIA is one of the 5 sponsoring organizations of COSO, and Richard F. Chambers, President and Chief Executive Officer, sits on the COSO Board as The IIA’s representative. In addition to him, Steve Jameson (The Chair of PIC) served on the ICIF Advisory Committee. Given the global reach of the COSO Framework and the unofficial-regulatory status it as assumed over the past decade, we anticipate extensive public interest and comment on this important document.
In the coming days, PIC will initiate the process by which it compiles The IIA’s official response to the new Framework. To minimize confusion, Global IIA would like to submit a single response to COSO reflecting the views of IIA, Inc and our Institutes worldwide.
The draft of the press release is provided below. The link to the Exposure Draft web site is: http://bit.ly/w5cFzr
ALTAMONTE SPRINGS, Fla. AND NEW YORK, NY. December 19, 2011 – The Committee of Sponsoring Organizations of the Treadway Commission (COSO) – an organization providing thought leadership and guidance on internal control, enterprise risk management, and fraud deterrence – has released, for public comment, an updated Internal Control – Integrated Framework (Framework) intended to help organizations improve performance with greater agility, confidence and clarity.
COSO originally engaged PwC to develop a framework for internal control in response to a recommendation from the Treadway Commission. Building on the success of the original framework, COSO has worked with PwC to update it for organizations: to adapt to increasing complexity and pace of change; to mitigate risks to the achievement of objectives; and to provide reliable information to support sound decision making.
A broad range of professionals from industry as well as representatives and observers from academia, government agencies, and nonprofit organizations have provided a wealth of perspective on how the original Framework can be refreshed. The Framework retains the core definition of internal control and the five components of a system of internal control. One of the most significant enhancements is the codification of internal control concepts introduced in the original framework into 17 principles and supporting attributes that further support organizations as they apply judgment in managing risk and improving performance in an increasingly complex and rapidly changing environment.
Following the comment period, which ends March 31, 2012, the Framework will be revised as necessary. Release of the final Framework is expected in fall of 2012.
“Issued in 1992, the COSO Internal Control-Integrated Framework has become the most widely used internal control framework in the world,” said David L. Landsittel, Chairman of COSO. “The key concepts proposed in our original framework are timeless, yet the changes we have seen in the business and operating environments have driven the need for this update. The update should allow organizations to more effectively utilize the framework to develop and maintain systems of internal control in support of their long-term success.”
Miles Everson, Global Leader of Governance, Risk and Compliance with PwC and Project Leader noted, “We are spearheading this update to enable organizations of all types and sizes to efficiently develop systems of internal control that further enhance the likelihood of achieving their objectives.”
“Effective internal control allows organizations to adapt to a changing business landscape, and obtain confidence that controls mitigate risks to acceptable levels,” added Landsittel. “This is key for the long-term success of any organization.”
To access the complete Internal Control-Integrated Framework, please visit www.ic.coso.org
Originally formed in 1985 to sponsor the National Commission of Fraudulent Financial Reporting, COSO is a joint initiative of five private sector organizations and is dedicated to providing thought leadership through the development of frameworks and guidance on enterprise risk management (ERM), internal control and fraud deterrence. COSO’s supporting organizations are The Institute of Internal Auditors (IIA), the American Accounting Association (AAA), the American Institute of Certified Public Accountants (AICPA), Financial Executives International (FEI), and the Institute of Management Accountants (IMA). www.coso.org
PwC firms help organizations and individuals create the value they’re looking for. We’re a network of firms in 158 countries with close to 169,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.com.
© 2011 PricewaterhouseCoopers LLP, a Delaware limited liability partnership. All rights reserved. PwC refers to the US member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.
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.
Thank you.
In order to streamline the CIA exam process for candidates and to avoid an impending price increase in the delivery of exams by our vendor, Global IIA is reducing the number of un-scored questions on the CIA exam and specialty exams.
For each CIA part, the number of questions will be reduced from 100 to 90, of which 80 will continue to be scored. In addition, the time allowed for the exam will be reduced from 2 hours 45 minutes to 2 hours 25 minutes. An additional 5 minutes will be allowed for the survey at the end of the exam.
For each specialty exam, the number of questions will be reduced from 125 to 115 (of which 100 will continue to be scored), and the time allowed for the exam will be reduced from 3 hours 15 minutes to 2 hours 55 minutes with an additional 5 minutes allowed for the survey.
IMPORTANT: The reduction in the number of un-scored questions does NOT impact the passing score as the number of scored questions required to pass remains the same.
In order to facilitate this reduction, the exam tutorial, which was previously only available to candidates once they had arrived at the test center and been admitted, will now be available on our website.
Please click here for more information on the CBT Exam Tutorial.
Please click here to launch the CBT Exam Tutorial.
Effective January 1, 2012, changes to the reporting period, CPE requirements, and the reporting process will be implemented. The following table summarizes these changes:
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Effective Jan. 1, 2012
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| Reporting Period
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Reporting will now be done annually for all certified individuals. All candidates will be required to report every year versus every other year.
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The reporting date is changing from May 31 to Dec. 31.
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| Number of Hours Required for CIA
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· 40 hours per year (if practicing)
· 20 hours per year (if non-practicing)
· 0 hours per year (if retired)
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CCSA, CFSA, CGAP, CRMA
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· 20 hours per year (if practicing)
· 10 hours per year (if non-practicing)
· 0 hours per year (if retired)
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25 percent of CPE hours earned must be in the specialty area of expertise.
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| Required Attestations at Time of CPE Reporting Submission
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· To practice in accordance with The IIA’s International
· Professional Practices Framework (IPPF)
· To abide by The IIA’s Code of Ethics
· To not bring The IIA into disrepute
· Confirming no criminal convictions since last reporting period
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| Failure to Report CPE
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Certification status will be changed to INACTIVE. Designation can no longer be used until status is reinstated to CERTIFIED.
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| Reinstatement Policy
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If INACTIVE greater than 12 months, the candidate will need to report 80 hours of CPE and pay a reinstatement fee of US $100 (member) or US $250 (nonmember).
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Please click here for more details on the CPE reporting requirements.
Please click here for the FAQ.
The IIA's Certification Department is currently conducting a survey of global certification needs related to internal audit career progression. The survey, designed to identify assessment gaps for high-level internal auditors from the perspectives of both the internal audit professional and key stakeholders, is open to all internal audit professionals, chief executive officers, chief financial officers, audit committee chairs, and other key stakeholders around the globe.
Open from December 5-21, 2011, the survey will assist The IIA in identifying programs or services that will provide internal auditors with the opportunity to demonstrate growth in both skill and competency level during their career progression and represent the value internal audit professionals bring to the organizations that engage them.
Chief audit executives (or related role) who complete the survey and have two stakeholders (CEO, CFO, or audit committee chair) from their organization also complete the survey will be entered into a drawing to receive a complimentary conference registration to either the 2012 General Audit Management Conference or the 2012 International Conference. Individuals who would like an opportunity to win a complimentary conference registration must provide their name and e-mail address at the end of the survey. Stakeholders completing the survey must reference the organization name at the end of the survey. This information will only be used to identify entrants for the drawing and to contact the winner.
Click here to participate in this 10-minute survey, and be sure to forward the link to your organization’s CEO, CFO, audit committee chair, or other key stakeholder.
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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:
http://www.linkedin.com/groups?gid=2343960&trk=hb_side_g
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:
CIA
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.
CFSA
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 |
CCSA
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.
CGAP
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 |
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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.
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Date :
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4 March 2012
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Event :
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ACIIA CAE Leadership Forum, Sydney
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4 – 7 Mar 2012 |
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SOPAC 2012 Conference
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IIA Australia
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26 – 29 Mar 2012
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CFE Exam Review Course
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20 Mar 2012 |
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March Seminar and Networking Dinner - Effective Security Policy Management
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For your convenience, NETS payment is now accepted at Secretariat Office. You can make use of this payment facility for your membership renewal, certification application, CIA Learning System etc.
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