Professional organizations play an invaluable role in industry. Visit the profes
ID: 2379006 • Letter: P
Question
Professional organizations play an invaluable role in industry. Visit the professional organizations listed below and learn about resources and services they offer to their members.Association of Certified Fraud Examiners at http://www.cfenet.com
Institute of Certified Internal Auditors at http://www.theiia.org
Discuss the potential benefits of membership in the two professional organizations you visited.
Discuss opportunities for education and training, and the certifications offered both professional organizations you visited.
Explanation / Answer
Certified Fraud Examiner(CFE) membership benefits - Accepted worldwide as the standard of professional excellence in the anti-fraud profession, the CFE boasts a nearly 22% salary premium* and has been identified as "the gold standard in the area of fraud."** Highly-regarded, member exclusive publications Expand your knowledge with content relevant to your career and stay current with the latest fraud-related news, information and emerging trends with Fraud Magazine, The Fraud Examiner and Fraud Magazine e-newsletters. You can also find the latest fraud news and commentary on the ACFE blogs, FraudInfo and ACFE Insights. Diverse networking opportunities Connect and collaborate with anti-fraud professionals from all over the world at training events, local chapter meetings and online via targeted Discussion Forums, LinkedIn, Facebook and Twitter. Expert Training Opportunities Sharpen your skills, increase your value in the job market and fulfill your continuing education requirements for the CFE and other credentials. The ACFE offers the best anti-fraud training available, including conferences, seminars, webinars, self-study courses, books and manuals. Career Support Visit the online Career Center, designed for anti-fraud professionals no matter what stage you are in your career. A targeted job board, online resources, information on career paths and answers provided by experts in the areas of career development, human resources, self-employment and career transitions help you navigate the challenges you encounter in your career. Leadership development Distinguish yourself from your colleagues by developing and refining your leadership abilities through ACFE volunteer opportunities such as: Participating in your local chapter Volunteering to serve on an ACFE committee Speaking at an ACFE event Joining the Advisory Council where you can help shape the future of the ACFE Specialized online tools and resources to support your career: Fraud Risk Assessment – is your organization at risk for fraud? Fraud information and articles in a searchable database format. Sample documents, policies and reports to help you do your job better. Targeted Online Discussion Forums provide a platform for you to share your concerns and challenges with those who share their solutions and insights. Free quarterly webinars – earn free CPE while staying abreast of new topics and information. Institute of Internal Audit Benefits - The Institute offers its members hundreds of valuable products and services. Take a moment to review the many benefits of IIA membership. Professional Guidance and Certification The IIA's International Standards for the Professional Practice of Internal Auditing represents the practice of internal auditing as it should be; the Code of Ethics sets forth standards of conduct for IIA members. The IIA's Guidance Update provides information about the latest changes to professional guidance. Professional recognition through four certification programs: Certified Internal Auditor (CIA), Certification in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), and Certified Financial Services Auditor (CFSA). Networking and Participation Abundant networking opportunities through a variety of IIA activities. From conferences and committees to chapters and institutes, you can expand your professional network by learning and sharing knowledge with more than 170,000 members worldwide. Member ExchangeTM (METM), The Institute of Internal Auditors' (IIA's) FREE members-only online networking tool, connects you with other IIA members to tap into the combined experience of over 6,000 internal auditors. Members-only participation, where applicable, in special amenity programs. Opportunities to participate on international committees or hold international office. Access to local institutes for budget-friendly education and opportunities to share ideas and experiences with your colleagues. We encourage you to become involved at the local level. Training Reduced registration fees for IIA seminars. From "Tools and Techniques for the Beginning Auditor" to "Vision University," there are courses for auditors at all levels of experience and knowledge. Reduced registration fees for IIA conferences, including the General Audit Management Conference and the International Conference, and a selection of industry-specific conferences. Access to customized on-site seminars for corporations, government agencies, and IIA chapters internationally. Web-based training to fit your busy schedule: IIAOnlineCPE provides two Web-based training subscription programs: Issues & Answers - A Web-based multimedia training program offering over 100 professionally produced, 50-minute NASBA-approved courses on a variety of current topics. Skills Training - An annual subscription that features more than 1,000 NASBA-approved credit hours and hundreds of multimedia and text-driven, skills-based courses. Publications Subscription to Internal Auditor magazine, The IIA's official publication. Subscription to IIA Today, The IIA's membership newsletter. Access to research reports on important trends and issues in internal auditing. Among the most recognized projects are the Common Body of Knowledge (CBOK); the Systems Auditability and Control report; Control Model Implementation: Best Practices; Risk Management: Changing the Internal Auditor's Paradigm; and the Competency Framework for Internal Auditing (CFIA). Discounts on hundreds of educational products that provide practitioners with the most current information and guidance in the profession. IIA products include videos, study aids, textbooks, comprehensive instructional packages (CIPs), and internal audit tool kits. Services Members-only access to the Audit Career Center, including The IIA Resume Service. Through our Information Network department, The Institute compiles and disseminates benchmarking information through Global Audit Information Network (GAIN) reports. GAIN enables internal audit executives to compare their audit department functions with those of other organizations, network with peers in their industry, and share successful practices. Quality can provide you with guidance and resources to assist you in evaluating your company's compliance with the Standards and other leading practices. Industry-specific membership sections including financial services and gaming groups. Certifications - How to Become a CFE Taking the steps to become a Certified Fraud Examiner (CFE) will position you as a leader in the anti-fraud community and a specialist in the prevention and detection of fraud. Becoming a CFE requires specific qualifications and is achieved by passing the CFE Exam, but the process to apply is a simple one. 1. Be an Associate member of the ACFE in good standing. Membership is a requirement to take the CFE Exam. If you are not already an Associate member of the ACFE, you must first become a member to pursue the CFE credential. Apply for an Associate Membership 2. Submit the CFE Exam application with proof of education and professional recommendations. We recommend you gather your documentation and send it all together along with your application approximately one month before you are ready to take the CFE Exam. A complete CFE Exam application with documentation is required to take the CFE Exam. Choose from the following options to apply for the CFE Exam: Submit CFE Exam application and payment online and submit proof of your education and three CFE Candidate Recommendation forms to the Certification Department at ACFE Headquarters. Fill out the CFE Exam application and submit a completed form, along with proof of your education and three CFE Candidate Recommendation forms to the Certification Department at ACFE Headquarters. The cost to take the CFE Exam is US $300. If you have purchased the CFE Exam Prep Course, you will receive a US $100 credit on the cost of the CFE Exam fee reducing the CFE Exam fee to US $200. Complete applications and supporting documentation may be submitted to the Certification Department by fax to +1 (512) 276-8180, by scan and email to Exam@ACFE.com, or by mail to Association of Certified Fraud Examiners, Attn: Certification Department, 716 West Avenue, Austin, TX 78701 USA. 3. Prepare for the CFE Exam It is important to take the time to prepare for the CFE Exam. There are many different ways you can prepare, but the following are the most common: Study with the CFE Exam Prep Course. The prep course is a computer self-study course produced by the ACFE. Available in US, Canada, UK and International editions, the CFE Exam Prep Course mirrors the format of the actual exam and comes with a Money-Back Pass Guarantee. An electronic copy of the Fraud Examiners Manual is included. Attend the CFE Exam Review Course. This 3½-day, instructor-led course provides the essentials needed to pass the CFE Exam and become a Certified Fraud Examiner. This course, in combination with the CFE Exam Prep Course software, will provide you with an unbeatable combination for passing the exam. View the calendar of events for locations and dates. Study on your own. Approximately 90 percent of the CFE Exam’s questions are derived from material contained in the Fraud Examiners Manual while the remainder is compiled from the Corporate Fraud Handbook. Learn more about the CFE Exam and how to prepare to take it. 4. Pass the CFE Exam. The CFE Exam is a Windows-based program that tests your knowledge and expertise in the four primary areas of fraud examination: Fraudulent Financial Transactions, Legal Elements of Fraud, Investigation Methods, and Fraud Prevention and Deterrence. 5. Gain final approval from the certification committee and become a CFE. You will officially become a CFE once your exam and credentials are approved by the certification committee. Those who have attained the CFE credential will be invoiced at the CFE dues rate upon annual membership renewal. IIA Certification - Six Steps to Earning a Certification in Internal Auditing Below are the six steps an internal auditor should review when making the decision to become certified in the profession. Step 1: Decide Which Certification Is Right for You The IIA's Certified Internal Auditor® (CIA®) certification is the only globally accepted designation for internal auditors. It is a four-part exam that remains the standard by which individuals demonstrate their comprehensive competence and professionalism in the internal auditing field. The IIA also offers three specialty certifications: 1. Certification in Control Self-Assessment® (CCSA®); 2. Certified Government Auditing Professional® (CGAP®); and 3. Certified Financial Services Auditor® (CFSA®). Individuals may choose to take a specialty exam as credit for Part IV of the CIA exam or individuals who do not meet the CIA program education and experience eligibility requirements may wish to take one of the specialty certifications, which are one-part exams. Step 2: Determine Your Eligibility and Skill Level Each of The IIA certification programs has unique and specific education eligibility requirements that a candidate must meet to take the exam. In addition, you may want to assess your skill level by taking a practice test using the sample questions on the Web site. Although your score on a practice test will not necessarily indicate what your score would be on a certification exam, a practice test may assess your readiness and lets you know in what areas you need improvement. Click on exam links in Step 1 for more about eligibility requirements. Step 3: Register for the Exam The IIA's certification exams are now offered through computer-based testing, year-round at more than 500 locations worldwide.To apply and register, please click here to log in to CCMS. Step 4: Prepare for the Exam You determine the method(s) in which you need to prepare for the exam. We provide you with a list of available resources for your consideration. Click on exam links in Step 1 to find preparation resources. Step 5: Take the Test With the transition to computer-based testing (CBT), The IIA's certification exams are administered through the worldwide network of Pearson VUE Testing Centers. The Pearson VUE network increases the availability of the exam from approximately 250 exam sites to over 500 exam sites. For more information on the testing experience, read the Candidate Handbook. Step 6: Receive Your Certificate Once you have passed the exam and met all other program requirements, your certificate will be issued to your local IIA institute for distribution.
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