Certified Financial Services Auditor (CFSA)

CFSA Program Overview One of The IIA’s specialty certifications. Demonstrates knowledge of and proficiency in financial services auditing practices and methodologies. Offered worldwide in three financial service disciplines – banking, insurance, and securities. Qualifies as Professional Recognition Credit for Part IV of CIA exam.

CFSA Exam Offered in May and November each year worldwide at 250+ exam sites. Additional exam offerings held in conjunction with IIA Conferences during the year. Option to take one of three exam disciplines – banking, insurance, and securities. 125 multiple-choice question format general questions and 25 questions specific to the selected discipline. Exam completion time: 3 ½ hours

CFSA Exam Statistics 2002: 68 tested; 43 passed 2003: 101 tested; 74 passed 2004: 172 tested; 112 passed Total CCSAs Worldwide: 3,246* (*Includes individuals that were grandfathered in 2001)

CFSA Designation Benefits Distinguishes you from your peers. Carries weight with your management team and external clients. Demonstrates your commitment to proficiency and professionalism. Lays a foundation for your continued career improvement and advancement. Gives you personal satisfaction of achievement.

CFSA Program Requirements Agree to abide by the Code of Ethics Bachelor’s degree or equivalent (Two-year degree + three years of financial services experience may substitute for four-year degree.) Character reference Work experience (Two years auditing experience in a financial services environment) Continuing Professional Education (CPE)

CFSA Exam Content Domain I Financial Services Auditing (25-35%) Domain II Auditing Financial Services Products (25-35%) Domain III Auditing Financial Service Processes (25-35%) Domain IV The Regulatory Environment (10-20%) Individual Financial Services Discipline Sections (25 Questions - Proficiency Level)

CFSA - Exam Disciplines Banking – Insurance - Securities Products Processes The Regulatory Environment

CFSA Exam – Domain I Financial Services Auditing A.IIA Professional Practices Framework B.Internal Control, Risk Management, Governance C.Audit Process D.Implications of Information Technology E.Auditing Financial Statement Elements

CFSA – Domain II Auditing Financial Services Products A.Lending/Loan B.Deposits C.Trusts D.Annuities E.Derivatives F.Electronic Services G.Cash Management Services H.Stocks I.Bonds J.Commodities K.Mutual Funds L.Employee Benefits M.Capital Market Products N.Securities Lending O.Insurance Policies P.Insurance Products Q.Foreign Exchange R.Asset Management S.Money Market Products

CFSA – Domain III Auditing Financial Service Processes A.Risk Management B.Underwriting C.Securitizations D.Treasury Operations E.Back-office Operations F.Marketing Sales and Distribution G.Claims H.Investments I.Broker/Dealer Activities J.Rating Advisory Service K.Mergers and Acquisitions L.Loan Operations

CFSA – Domain IV The Regulatory Environment A.Overview of the Regulatory Environment B.Laws and Regulations C.Stock Exchanges and Other Markets D.Money and Banking

CFSA Exam Preparation Resources CFSA Study Guide Sample Exam Questions Online IIA Training Seminars Other IIARF Published Books Visit CFSA at

CFSA CPE Requirements Practicing CFSAs must acquire 40 hours of Continuing Professional Education (CPE) every 2 years. Self-certification of CPE hours. Forms submitted to The IIA on a biennial basis. CPE requirement is waived the year in which the exam is passed and the subsequent year. CFSA’s who are also CIA’s satisfy their CPE’s through the CIA CPE reporting.

CFSA – Exam Registration Apply Online CFSA at Contact Customer Service at Phone at Note: Candidates seeking to take the exam in Australia, Austria, China, Chinese Taiwan, Czech Republic, France, Germany, Greece, Indonesia, Israel, Italy, Japan, Korea, Malaysia, Morocco, The Netherlands, New Zealand, Philippines, Singapore, South Africa, Spain, Sweden, Thailand, and Turkey must register with their local affiliate.

Other IIA Financial Service Products/Services Financial Services Auditor Membership Group IIA Financial Services Annual Conference IIA Financial Services Publication (FSA)

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