Interested in this topic? Visit the links below for more resources:
WEBVTT
1
00:00:02.225 --> 00:00:04.725
The Institute of Internal Auditors presents all
2
00:00:04.725 --> 00:00:05.765
things internal audit.
3
00:00:06.145 --> 00:00:09.485
In this episode, bonito IRA sits down with Rick Walkie
4
00:00:09.585 --> 00:00:11.205
to discuss the newly updated
5
00:00:11.765 --> 00:00:15.485
internal audit practitioner designation or the IAP.
6
00:00:15.875 --> 00:00:18.445
They explore its value as a permanent credential.
7
00:00:18.905 --> 00:00:21.285
Its role as a stepping stone to the CIA
8
00:00:21.465 --> 00:00:23.405
and how it equips internal auditors
9
00:00:23.405 --> 00:00:24.845
with foundational knowledge.
10
00:00:25.345 --> 00:00:28.085
The conversation highlights the IAPs global reach
11
00:00:28.605 --> 00:00:31.565
employer credibility and practical benefits for students,
12
00:00:32.325 --> 00:00:34.725
rotational auditors and professionals at the start
13
00:00:34.725 --> 00:00:35.725
of their audit journey.
14
00:00:38.355 --> 00:00:40.485
Rick, thank you for joining us today.
15
00:00:40.545 --> 00:00:42.005
You know, looking forward to having a di
16
00:00:42.005 --> 00:00:43.485
discussion about the IAP.
17
00:00:43.785 --> 00:00:45.365
You know, I saw you around spending
18
00:00:45.365 --> 00:00:46.405
some time here at the ia.
19
00:00:46.405 --> 00:00:47.925
We appreciate everything you do for us,
20
00:00:47.985 --> 00:00:49.965
but we thought, why not sit down
21
00:00:49.965 --> 00:00:52.085
and talk a little bit about our, about our experience, uh,
22
00:00:52.085 --> 00:00:53.245
working together on the IEP.
23
00:00:53.245 --> 00:00:54.965
So really looking forward to it.
24
00:00:55.295 --> 00:00:58.005
Thank you. It's always fun to be at IA headquarters
25
00:00:58.145 --> 00:01:00.925
and being able to, to renew some of those relationships
26
00:01:00.985 --> 00:01:04.605
and work through, um, some of the challenges we have with
27
00:01:04.785 --> 00:01:07.525
that's related to the exam development committee. Yeah,
28
00:01:07.665 --> 00:01:08.665
No, it's been really good. Working
29
00:01:08.665 --> 00:01:09.965
with you and the team is great.
30
00:01:10.025 --> 00:01:11.245
So, like I said, having a chance
31
00:01:11.245 --> 00:01:13.405
to work together on the IAP, you know,
32
00:01:13.405 --> 00:01:15.045
let's talk a little bit about each
33
00:01:15.045 --> 00:01:16.125
other's experiences on that.
34
00:01:16.125 --> 00:01:18.565
Right? So things are looking good, excited about
35
00:01:18.565 --> 00:01:20.085
what it means for the profession,
36
00:01:20.105 --> 00:01:22.925
but what stands out for you in terms of all of that?
37
00:01:23.265 --> 00:01:24.765
It was a somewhat of a long process.
38
00:01:25.285 --> 00:01:28.085
18 months I think we worked through trying to get
39
00:01:28.105 --> 00:01:29.565
to the finished product.
40
00:01:29.795 --> 00:01:31.365
That, first of all, stands out to me.
41
00:01:31.425 --> 00:01:34.845
Second of all, I think we hit all of the objectives
42
00:01:34.845 --> 00:01:37.445
that we had for the IAP
43
00:01:37.745 --> 00:01:40.405
and, you know, it's make it a permanent designation,
44
00:01:40.835 --> 00:01:43.205
make it a stepping stone to the CIA,
45
00:01:43.695 --> 00:01:45.205
those types of objectives.
46
00:01:45.685 --> 00:01:46.925
I felt really, really good
47
00:01:47.075 --> 00:01:50.005
that we accomplished those objectives over those,
48
00:01:50.175 --> 00:01:52.085
those several months that we spent
49
00:01:52.315 --> 00:01:53.445
working through the process.
50
00:01:53.755 --> 00:01:55.125
Yeah, that piece you mentioned about
51
00:01:55.325 --> 00:01:56.405
counting toward the CAA.
52
00:01:56.465 --> 00:01:58.765
So that wasn't always the intent, you know, as we,
53
00:01:58.785 --> 00:02:02.205
as we thought about what we were going to do with the IAP
54
00:02:02.205 --> 00:02:03.845
because we knew we needed to update it,
55
00:02:04.035 --> 00:02:06.645
make it more valuable when that idea came up,
56
00:02:06.945 --> 00:02:08.725
if things really started clicking Yeah.
57
00:02:08.725 --> 00:02:10.645
Because we started talking about the difficulty
58
00:02:11.065 --> 00:02:13.445
who we could serve, et cetera, et cetera. So, yeah,
59
00:02:13.445 --> 00:02:14.445
Go ahead. Yeah, but think about
60
00:02:14.445 --> 00:02:15.325
that for a second.
61
00:02:15.505 --> 00:02:19.685
Benino, it's, it's really a great way to kick off your CIA
62
00:02:20.275 --> 00:02:23.165
journey is Let's jump in there.
63
00:02:23.255 --> 00:02:25.205
Let's, let's earn that IAP
64
00:02:25.665 --> 00:02:29.605
and oh, by the way, I've got a stepping stone toward the CIA
65
00:02:29.825 --> 00:02:32.885
and what better way for the i i a to kind
66
00:02:32.885 --> 00:02:36.205
of get people introduced to our certification program
67
00:02:36.865 --> 00:02:40.685
by doing the designation with the IAP, let's clear up some
68
00:02:40.685 --> 00:02:42.565
of the confusion on the IAP.
69
00:02:42.875 --> 00:02:45.645
When you apply for the IAP, you are applying
70
00:02:45.785 --> 00:02:47.485
for the IAP designation,
71
00:02:48.785 --> 00:02:53.405
you will take the CIA part one, same questions
72
00:02:53.585 --> 00:02:56.365
as you would take if you were taking it in the CIA,
73
00:02:57.145 --> 00:03:01.915
but you will only have to take CIA part one to earn
74
00:03:02.425 --> 00:03:04.195
your IAP designation.
75
00:03:04.695 --> 00:03:06.395
You can stop at that point.
76
00:03:06.655 --> 00:03:10.195
You have to do the 20 hours of CPE each year
77
00:03:10.255 --> 00:03:13.915
to maintain your IAP and you can just stop
78
00:03:14.335 --> 00:03:15.635
and have that designation
79
00:03:15.815 --> 00:03:18.835
and that credential behind your name.
80
00:03:19.455 --> 00:03:22.955
Or the next step could be that you go in
81
00:03:23.135 --> 00:03:26.355
and apply for the CIA exam
82
00:03:26.655 --> 00:03:28.715
and you can take the CIA exam in any order.
83
00:03:28.935 --> 00:03:30.195
Except guess what?
84
00:03:30.495 --> 00:03:32.835
You don't have to take CIA part one
85
00:03:33.585 --> 00:03:37.235
because you've already earned that IEP designation.
86
00:03:38.295 --> 00:03:40.075
You don't have to take CIA part one.
87
00:03:40.075 --> 00:03:41.395
You've got credit for that.
88
00:03:41.815 --> 00:03:45.355
You just have to focus on CIA parts two and three. Yeah.
89
00:03:45.355 --> 00:03:46.835
So, so putting yourself in the place
90
00:03:47.015 --> 00:03:49.635
or in the shoes of a, a candidate, an employee
91
00:03:49.775 --> 00:03:51.795
who is starting out an internal audit,
92
00:03:51.795 --> 00:03:52.835
thinking about internal audit,
93
00:03:52.985 --> 00:03:54.595
what does the IEP mean for them?
94
00:03:55.115 --> 00:03:57.635
I think the IAP means for those folks starting out,
95
00:03:57.775 --> 00:03:59.915
it gives them that, that ability
96
00:04:00.575 --> 00:04:03.115
to start in a structured manner.
97
00:04:04.135 --> 00:04:07.355
The learning of internal audit, the basics
98
00:04:07.615 --> 00:04:10.155
of internal audit, and the IAP
99
00:04:10.215 --> 00:04:13.555
and the study that you go through to pass the and
100
00:04:13.655 --> 00:04:15.915
and earn that designation of the IAP,
101
00:04:16.545 --> 00:04:18.875
that structure is sometimes really good
102
00:04:19.015 --> 00:04:20.395
for, for certain people.
103
00:04:20.895 --> 00:04:23.315
So when I first joined the ia, you know, we had,
104
00:04:23.455 --> 00:04:27.035
we had our certifications out there, the CIA, the IAP,
105
00:04:27.035 --> 00:04:28.755
and the CRMA, which we still promote
106
00:04:28.775 --> 00:04:30.995
and as we know, have recently updated in our working
107
00:04:31.015 --> 00:04:33.355
to update the CRMA with the update
108
00:04:33.355 --> 00:04:34.795
to the global internal audit standards.
109
00:04:34.795 --> 00:04:37.195
We knew we had a job to do with regard to the CIA
110
00:04:37.775 --> 00:04:40.715
and where the IAP fit within All of
111
00:04:40.715 --> 00:04:42.235
that was up for discussion.
112
00:04:42.615 --> 00:04:44.755
You know, so going back to those discussions,
113
00:04:44.755 --> 00:04:46.955
those early discussions, if you remember, uh, Rick,
114
00:04:47.145 --> 00:04:48.595
what are some of the things that stood out for you
115
00:04:48.595 --> 00:04:52.035
with regard to the opportunities, the challenges up ahead?
116
00:04:52.295 --> 00:04:55.635
So if I'm, if I'm sitting in my seat as a,
117
00:04:55.695 --> 00:04:59.035
as a brand new internal auditor, I'm trying to figure out
118
00:04:59.345 --> 00:05:02.595
what it is I should be doing, what it is I should know,
119
00:05:03.655 --> 00:05:07.115
and the knowledge base that is in the syllabus
120
00:05:07.495 --> 00:05:11.035
for the IEP, that's a place for you to go
121
00:05:11.375 --> 00:05:13.635
as a new internal auditor to find out
122
00:05:13.785 --> 00:05:15.595
what this whole thing is all about.
123
00:05:16.425 --> 00:05:19.315
What it is, what is a baseline knowledge
124
00:05:19.315 --> 00:05:21.355
that an internal auditor should know?
125
00:05:21.815 --> 00:05:22.915
How should I perform?
126
00:05:23.305 --> 00:05:26.155
What are the ethics, the due professional care
127
00:05:26.155 --> 00:05:27.835
that we have to exercise?
128
00:05:28.495 --> 00:05:31.595
All of those things. You may be sitting in your chair
129
00:05:31.615 --> 00:05:36.155
and had no idea what those things were, how that relates
130
00:05:36.175 --> 00:05:37.195
to internal audit.
131
00:05:37.615 --> 00:05:41.275
And as you study through to earn that IAP,
132
00:05:41.735 --> 00:05:44.675
you're gonna understand what it is
133
00:05:44.695 --> 00:05:46.595
to be an internal auditor.
134
00:05:47.055 --> 00:05:48.155
Yep, yep. Thank you.
135
00:05:48.615 --> 00:05:50.915
So when you think about the IEP, you know, who,
136
00:05:51.215 --> 00:05:52.555
who would you say it's designed for?
137
00:05:52.695 --> 00:05:55.275
How should candidates be thinking about this exam?
138
00:05:55.715 --> 00:05:58.325
I think it's designed for, for every internal auditor.
139
00:05:58.625 --> 00:06:01.285
To me, it doesn't really matter if you're not certified,
140
00:06:01.915 --> 00:06:04.165
then I think the IEP may be for you.
141
00:06:04.545 --> 00:06:07.845
We specifically looked at designing a, a credential
142
00:06:07.845 --> 00:06:10.965
or a designation for college students.
143
00:06:11.255 --> 00:06:15.045
Folks that don't have, don't quite have any experience yet,
144
00:06:15.705 --> 00:06:18.045
but that are very interested in internal audit.
145
00:06:18.145 --> 00:06:21.205
So that was one target audience that we saw a need
146
00:06:21.305 --> 00:06:24.205
for in the, uh, IAP professionals
147
00:06:24.275 --> 00:06:26.965
that are rotating into an internal audit function.
148
00:06:27.785 --> 00:06:29.605
The IAP gives them that opportunity
149
00:06:29.625 --> 00:06:31.845
to learn those fundamentals of internal audit
150
00:06:32.185 --> 00:06:35.405
and be able to earn a designation that says, Hey,
151
00:06:36.085 --> 00:06:38.565
I understand the fundamentals of internal audit.
152
00:06:39.105 --> 00:06:44.085
And then their CAEs can rely upon upon that examination
153
00:06:44.105 --> 00:06:48.365
and that designation to say, Hey, these people understand.
154
00:06:49.185 --> 00:06:51.725
And then just any other internal auditor that has not
155
00:06:51.785 --> 00:06:55.685
yet pursued their CIA start out with the IAP.
156
00:06:56.145 --> 00:06:58.005
See what you think about the IAP.
157
00:06:58.105 --> 00:07:02.285
If you liked what you experienced in the IAP, come back,
158
00:07:02.415 --> 00:07:04.405
let's go, let's go finish this thing out.
159
00:07:04.455 --> 00:07:06.885
Let's get there and get that CIA. Well,
160
00:07:06.885 --> 00:07:09.805
That's good because it, it kind of segues into the,
161
00:07:09.985 --> 00:07:12.845
the purpose that we talk about here at, at headquarters
162
00:07:12.845 --> 00:07:15.765
regarding the standards, the guidance we put out the tools
163
00:07:15.825 --> 00:07:19.085
and the certifications we have to give, you know, those
164
00:07:19.085 --> 00:07:23.325
that rely on us, that confidence that there is a level,
165
00:07:23.525 --> 00:07:25.885
a foundational level of expertise, professionalism,
166
00:07:26.515 --> 00:07:28.325
like I said, the ethics, integrity all comes
167
00:07:28.325 --> 00:07:31.245
with it associated with our profession, you know, for,
168
00:07:31.385 --> 00:07:33.965
for some, the internal audit profession is still
169
00:07:33.965 --> 00:07:35.205
misunderstood, unfortunately.
170
00:07:35.745 --> 00:07:38.365
So in strengthening everything I talked about
171
00:07:38.785 --> 00:07:41.405
and getting people to commit, like you said mm-hmm.
172
00:07:41.505 --> 00:07:43.325
And demonstrate their abilities Yeah.
173
00:07:43.325 --> 00:07:45.325
We're doing the right thing for, for them. Yeah.
174
00:07:45.565 --> 00:07:48.005
I, I, I can't agree more.
175
00:07:48.385 --> 00:07:53.165
Um, our vision 2035 study really supports that.
176
00:07:53.345 --> 00:07:55.205
Um, we need to get out there
177
00:07:55.305 --> 00:07:59.085
and make sure that, that everyone understands internal audit
178
00:07:59.225 --> 00:08:01.045
and what it is and what it isn't.
179
00:08:01.625 --> 00:08:04.485
And I think that, um, looking at the fundamentals of,
180
00:08:04.545 --> 00:08:05.605
of internal audit
181
00:08:06.065 --> 00:08:09.165
and earning that designation of the IEP is a, is a,
182
00:08:09.185 --> 00:08:10.605
is a very, very good start
183
00:08:11.305 --> 00:08:13.405
toward understanding internal audit
184
00:08:13.505 --> 00:08:14.845
and understanding what it is
185
00:08:15.225 --> 00:08:16.965
and understanding what it is not.
186
00:08:17.355 --> 00:08:18.405
Yeah. Yeah. One
187
00:08:18.405 --> 00:08:20.165
of the things you mentioned the reliability, right?
188
00:08:20.165 --> 00:08:23.205
That this brings. So I'll admit a few years ago I wasn't
189
00:08:23.205 --> 00:08:24.605
here at the, I a, I was a practitioner,
190
00:08:24.725 --> 00:08:27.285
I was the chief auditor, and somebody came to me
191
00:08:27.285 --> 00:08:29.685
with the proposition with regarding, you know,
192
00:08:29.685 --> 00:08:32.445
taking the IAPI really didn't understand it,
193
00:08:32.445 --> 00:08:33.485
didn't know much about it,
194
00:08:34.185 --> 00:08:38.245
but given what I saw, I really couldn't, uh, unfortunately
195
00:08:39.035 --> 00:08:41.245
rely on it to, to gimme what I needed as far
196
00:08:41.245 --> 00:08:45.365
as career progression retracting, um, candidates or,
197
00:08:45.745 --> 00:08:47.485
or potential job seekers.
198
00:08:47.905 --> 00:08:49.485
So that was another consideration
199
00:08:49.485 --> 00:08:50.805
that we took into play for sure.
200
00:08:50.805 --> 00:08:52.965
And I think we've done that with regard to the reliability,
201
00:08:53.025 --> 00:08:55.565
you know, well, like you said, focus on fundamentals,
202
00:08:55.785 --> 00:08:57.405
giving reliability to the employer
203
00:08:57.585 --> 00:09:00.485
and those that rely on this, that they understand how
204
00:09:00.485 --> 00:09:02.125
to audit and do so in an ethical
205
00:09:02.145 --> 00:09:03.845
and manner with integrity too.
206
00:09:04.155 --> 00:09:07.565
Yeah, I think just the fact that the IEP is part one
207
00:09:07.665 --> 00:09:08.845
of the CIA exam
208
00:09:08.985 --> 00:09:12.605
and we're giving you credit for part one of the CIA exam,
209
00:09:12.765 --> 00:09:15.965
I think that lends a lot of reliability, a lot
210
00:09:15.965 --> 00:09:17.685
of credibility to that credential.
211
00:09:18.185 --> 00:09:20.845
And I think that CAE is looking for people
212
00:09:20.945 --> 00:09:23.325
and see somebody with that IAP now
213
00:09:23.875 --> 00:09:26.605
they actually can understand that, that, hey,
214
00:09:26.675 --> 00:09:28.565
this person is committed to internal audit.
215
00:09:28.915 --> 00:09:31.485
They know their fundamentals of internal audit
216
00:09:31.785 --> 00:09:34.045
and they're ready to come into my shop, ready
217
00:09:34.045 --> 00:09:35.045
to hit the ground running
218
00:09:35.105 --> 00:09:36.885
and learning the rest of, of,
219
00:09:37.265 --> 00:09:38.925
of the business of internal audit.
220
00:09:39.235 --> 00:09:41.165
Yeah. So in terms of, you know, the syllabus,
221
00:09:41.515 --> 00:09:42.885
what people should expect
222
00:09:42.985 --> 00:09:44.045
and start to study
223
00:09:44.145 --> 00:09:46.285
for when they're going on their IEP
224
00:09:46.285 --> 00:09:47.805
journey, where would you start?
225
00:09:48.035 --> 00:09:50.845
What are some of the elements that are for you stood out?
226
00:09:51.485 --> 00:09:53.485
I think some of the elements that I would focus on
227
00:09:53.745 --> 00:09:57.565
as I'm starting down, as I'm working through my AP journey,
228
00:09:57.875 --> 00:10:00.765
obviously you're gonna, you're gonna focus on section A
229
00:10:00.765 --> 00:10:02.485
of the, of the syllabus and,
230
00:10:02.625 --> 00:10:05.525
and to learn all of those concepts within that SEC
231
00:10:05.625 --> 00:10:07.725
and section A of, of the syllabus.
232
00:10:08.105 --> 00:10:11.205
But then as you're thinking about your journey
233
00:10:11.235 --> 00:10:13.285
through from the IAP
234
00:10:13.785 --> 00:10:18.605
and the journey to CIA, placing some emphasis in the area
235
00:10:18.865 --> 00:10:23.485
of section B and section C when it comes to the ethics
236
00:10:23.505 --> 00:10:26.885
and professionalism and governance, risk management
237
00:10:26.945 --> 00:10:29.965
and control, and the fraud risk section mm-hmm.
238
00:10:30.045 --> 00:10:31.125
Section D. Mm-hmm. Right.
239
00:10:31.745 --> 00:10:34.845
All of those things are gonna show back up later on.
240
00:10:34.905 --> 00:10:39.485
You'll see those overlapping with CIA parts two and three.
241
00:10:40.225 --> 00:10:43.045
And so you learn the fundamentals in section A.
242
00:10:43.585 --> 00:10:45.565
You start to learn more
243
00:10:45.565 --> 00:10:48.285
and more about managing the internal audit function
244
00:10:48.665 --> 00:10:53.045
and, um, performing engagements in sections B, C,
245
00:10:53.045 --> 00:10:57.325
and D of the syllabus for the IAP and,
246
00:10:57.345 --> 00:10:58.925
and part one of the CIA.
247
00:10:58.995 --> 00:11:02.005
Yeah, that's right. And these are concepts that also,
248
00:11:02.035 --> 00:11:04.365
like we mentioned earlier, give you confidence
249
00:11:04.705 --> 00:11:06.445
to have the discussions you need to,
250
00:11:07.005 --> 00:11:09.245
'cause as internal auditors, you're not always walking
251
00:11:09.245 --> 00:11:10.525
around giving people good news,
252
00:11:10.545 --> 00:11:12.045
but if you can speak in terms of
253
00:11:12.625 --> 00:11:14.365
organizational elements like this
254
00:11:14.745 --> 00:11:16.965
and how they're impacting the organization,
255
00:11:16.985 --> 00:11:18.405
how the organization could be better,
256
00:11:18.865 --> 00:11:20.485
how they could take new opportunities
257
00:11:20.545 --> 00:11:22.085
to do things in a different way.
258
00:11:22.615 --> 00:11:25.365
Those are things people like to hear, leaders like to hear.
259
00:11:26.125 --> 00:11:28.965
Absolutely. And these sections of this, of part one,
260
00:11:29.745 --> 00:11:32.245
are gonna enhance your abilities
261
00:11:32.385 --> 00:11:34.885
to have those sometimes tough conversations
262
00:11:35.305 --> 00:11:37.325
within your organizations. Yeah.
263
00:11:37.325 --> 00:11:38.565
One of the elements that you mentioned
264
00:11:38.565 --> 00:11:41.205
that I'm really excited about is that focus on governance,
265
00:11:41.275 --> 00:11:42.725
risk management and control.
266
00:11:42.915 --> 00:11:45.285
Because going back to my earlier story with regard
267
00:11:45.285 --> 00:11:48.325
to why this didn't resonate with me, if somebody had come
268
00:11:48.325 --> 00:11:51.885
to me and said, it included these elements, that's something
269
00:11:51.915 --> 00:11:53.605
that any professional right.
270
00:11:53.605 --> 00:11:55.685
Would want on their resume, want to know about.
271
00:11:56.245 --> 00:11:59.365
Absolutely. And and I think that really, um,
272
00:11:59.975 --> 00:12:02.725
folds well into rotational auditors.
273
00:12:03.165 --> 00:12:04.525
Auditors and folks
274
00:12:04.525 --> 00:12:07.645
that are rotating into the internal audit function, going
275
00:12:07.645 --> 00:12:09.845
through the, the, the IAP
276
00:12:09.845 --> 00:12:12.085
and earning that IEP, they're gonna start
277
00:12:12.105 --> 00:12:15.045
to hit on those concepts of governance,
278
00:12:15.115 --> 00:12:16.485
risk management and control.
279
00:12:16.905 --> 00:12:19.485
And like you said, Benito, once they come out
280
00:12:19.485 --> 00:12:22.045
of internal audit, out of their rotation of internal audit,
281
00:12:22.425 --> 00:12:24.005
and they've earned that IEP,
282
00:12:24.355 --> 00:12:28.365
they now have those fundamental concepts behind governance,
283
00:12:28.365 --> 00:12:29.805
risk management and control.
284
00:12:30.305 --> 00:12:32.885
Things like organizational processes
285
00:12:32.885 --> 00:12:35.525
and risk management within organizational processes.
286
00:12:35.945 --> 00:12:39.685
Um, the concepts of risk types, um, the concepts
287
00:12:39.685 --> 00:12:41.045
of risk mitigations.
288
00:12:41.425 --> 00:12:44.685
You have to understand those things to, to pass the IAP
289
00:12:45.145 --> 00:12:48.045
and those are concepts that should be
290
00:12:48.885 --> 00:12:50.885
woven throughout any organization.
291
00:12:51.585 --> 00:12:53.285
And again, the portability you mentioned
292
00:12:53.305 --> 00:12:54.805
for rotational auditors, for people
293
00:12:54.805 --> 00:12:56.285
that really aren't sure whether
294
00:12:56.285 --> 00:12:57.805
or not they want to stay in internal audit,
295
00:12:58.215 --> 00:13:00.725
these are concepts, this is knowledge that you're gonna take
296
00:13:00.725 --> 00:13:01.805
with you throughout your career.
297
00:13:02.605 --> 00:13:04.605
Absolutely. And they're, they're concepts
298
00:13:04.605 --> 00:13:08.205
that are really going to, in some cases,
299
00:13:09.035 --> 00:13:12.405
protect you out there in the, uh, in the organization.
300
00:13:12.435 --> 00:13:14.605
Once you've left internal audit,
301
00:13:14.825 --> 00:13:18.045
you'll understand those concepts of controls and fraud risks
302
00:13:18.225 --> 00:13:19.645
and fraud controls,
303
00:13:20.465 --> 00:13:24.005
and it could really save you out there in the
304
00:13:24.005 --> 00:13:25.485
organization someday.
305
00:13:26.105 --> 00:13:27.685
Yep. So for the internal auditor
306
00:13:27.785 --> 00:13:28.965
who doesn't have a certification
307
00:13:28.965 --> 00:13:30.285
or is thinking about the IEP
308
00:13:30.345 --> 00:13:32.525
and has that chief auditor that they have to convince
309
00:13:32.705 --> 00:13:35.685
to support it, how should that candidate, employer,
310
00:13:36.165 --> 00:13:39.125
employee, sorry, frame it. What can they talk about?
311
00:13:39.645 --> 00:13:42.085
I would frame it from the standpoint
312
00:13:43.105 --> 00:13:46.765
of employee development, help me develop my career.
313
00:13:47.365 --> 00:13:49.965
I really want to be an internal auditor,
314
00:13:50.465 --> 00:13:53.285
and I want to develop my career,
315
00:13:53.865 --> 00:13:57.565
and I would like to be able to one study for this,
316
00:13:57.745 --> 00:14:00.405
for the IAP, if you can help me out with some
317
00:14:00.405 --> 00:14:02.885
of the study materials, if nothing else,
318
00:14:02.995 --> 00:14:06.205
just support me in my, um, career goals
319
00:14:06.785 --> 00:14:09.405
of becoming a credentialed internal auditor.
320
00:14:09.915 --> 00:14:11.725
Yeah, that's good. And, and you mentioned that
321
00:14:11.725 --> 00:14:12.965
because it's important
322
00:14:12.965 --> 00:14:15.685
because what we, we've done here recently at the IA is
323
00:14:15.685 --> 00:14:18.205
contacted human resources professionals around the world,
324
00:14:18.545 --> 00:14:21.245
try to get them to think about our certification program
325
00:14:21.395 --> 00:14:22.485
more seriously in terms
326
00:14:22.485 --> 00:14:24.125
of the profession and career progressions.
327
00:14:24.125 --> 00:14:28.285
Right? So getting on your HRS radar is important as well
328
00:14:28.385 --> 00:14:30.725
for this, for the employee employees
329
00:14:30.725 --> 00:14:31.885
and the chief auditors as well.
330
00:14:32.225 --> 00:14:33.805
It, it helps with, you know,
331
00:14:34.005 --> 00:14:35.085
strengthening your organization.
332
00:14:35.315 --> 00:14:36.765
Yeah. And it's, it's good that you mentioned
333
00:14:36.765 --> 00:14:38.445
that strengthening of the organization
334
00:14:38.445 --> 00:14:41.165
because organizations, it seems like these days,
335
00:14:41.265 --> 00:14:44.885
the great organizations are really putting forth efforts
336
00:14:45.105 --> 00:14:46.765
to develop their employees.
337
00:14:47.625 --> 00:14:51.485
And again, in internal audit, what better way to,
338
00:14:51.585 --> 00:14:56.525
to show commitment to your internal auditors than to, um,
339
00:14:56.755 --> 00:14:59.685
help them out in developing their career and,
340
00:15:00.265 --> 00:15:02.285
and helping them earn their IAP.
341
00:15:02.595 --> 00:15:03.885
Yeah, that's absolutely right, Rick.
342
00:15:03.885 --> 00:15:05.485
And that lends itself to what we were talking about
343
00:15:05.485 --> 00:15:08.205
regarding the credibility, you know, the professionalism,
344
00:15:08.545 --> 00:15:10.685
et cetera, that we need to exude as a profession.
345
00:15:11.315 --> 00:15:13.605
Yeah. And if after you learn that and,
346
00:15:13.785 --> 00:15:15.485
and have mastered that
347
00:15:15.545 --> 00:15:20.045
and proven that through the IAP, people will look at you
348
00:15:20.105 --> 00:15:23.605
and understand that you, that you are credible, that you are
349
00:15:23.625 --> 00:15:26.565
for real when it comes to being an internal auditor
350
00:15:27.105 --> 00:15:30.445
and being able to perform your job at that highest level.
351
00:15:31.195 --> 00:15:33.205
Yeah. You gain confidence,
352
00:15:33.505 --> 00:15:35.405
but you also, like you said, you gain the credibility
353
00:15:35.405 --> 00:15:37.885
and that sets you up for the next phase, right.
354
00:15:38.185 --> 00:15:40.365
Taking those other challenges in your career.
355
00:15:40.365 --> 00:15:42.885
Oh, yeah. As you, as you pass that first part of the,
356
00:15:42.905 --> 00:15:43.925
of the CIA
357
00:15:44.265 --> 00:15:48.045
and earn that designation, it's gonna feel great.
358
00:15:48.145 --> 00:15:51.805
You're gonna feel accomplished at a career
359
00:15:51.875 --> 00:15:54.045
that we hope spans decades.
360
00:15:54.535 --> 00:15:59.365
Right. And that initial confidence can be earned,
361
00:15:59.465 --> 00:16:02.685
and you can feel that confidence by taking that IAP
362
00:16:02.745 --> 00:16:03.965
and, and mastering that.
363
00:16:04.915 --> 00:16:09.205
Yeah. One of the other benefits of, uh, the IAP now is
364
00:16:09.205 --> 00:16:13.245
that it serves 14 different languages or before, didn't.
365
00:16:13.315 --> 00:16:14.845
Yeah. And that's a huge difference
366
00:16:14.845 --> 00:16:18.925
and a huge advantage in the redesign of the IAP.
367
00:16:19.515 --> 00:16:21.925
Yeah. So in terms of feedback from all over the world,
368
00:16:22.065 --> 00:16:24.725
you know, our leaders, our national institutes,
369
00:16:24.725 --> 00:16:28.365
our chapters are really liking what they see out of the IEP.
370
00:16:28.475 --> 00:16:31.845
It's, it's given them a boost, uh, something to promote
371
00:16:32.115 --> 00:16:35.125
because like, like we've said before, it's now permanent.
372
00:16:35.345 --> 00:16:40.125
It counts toward the CIA, it allows them to convey
373
00:16:40.125 --> 00:16:42.285
to their employees that there's something valuable
374
00:16:42.975 --> 00:16:45.325
about seeking IA certifications.
375
00:16:46.025 --> 00:16:50.125
And this one, you know, again, being a potential, um,
376
00:16:50.125 --> 00:16:51.125
inflection point
377
00:16:51.585 --> 00:16:53.725
for somebody either thinking about internal audit
378
00:16:54.065 --> 00:16:57.365
or switching careers has really been an important, uh,
379
00:16:57.635 --> 00:16:59.165
important thing for people out there.
380
00:16:59.425 --> 00:17:00.965
Yep. Yeah. So again,
381
00:17:00.965 --> 00:17:03.085
I was really excited when those conversations came up
382
00:17:03.085 --> 00:17:05.245
and, you know, talking to stakeholders now all over the
383
00:17:05.245 --> 00:17:06.285
world, it's one
384
00:17:06.285 --> 00:17:09.245
of the really true value propositions that the IAP brings.
385
00:17:09.305 --> 00:17:10.805
So well done. Thank you.
386
00:17:10.805 --> 00:17:12.845
And congratulations to you and the team on that.
387
00:17:13.155 --> 00:17:14.245
Well, yeah, thank you.
388
00:17:14.265 --> 00:17:17.885
And, and you mentioned a, a, a really, um, important point.
389
00:17:17.885 --> 00:17:19.805
To me, it was a team effort.
390
00:17:19.945 --> 00:17:23.805
My, my exam development committee, every last person
391
00:17:23.865 --> 00:17:27.005
that's been on that committee, um, is still on
392
00:17:27.005 --> 00:17:29.685
that committee, was involved in the revamp
393
00:17:29.745 --> 00:17:31.285
of the, of the IEP.
394
00:17:31.625 --> 00:17:35.325
And I really have to thank that team for what they did to,
395
00:17:35.465 --> 00:17:39.125
to bring the IEP out to the, to the membership.
396
00:17:39.355 --> 00:17:42.565
It's been really fun for me to give back to a profession
397
00:17:42.595 --> 00:17:45.485
that for the last 35 plus years of my life,
398
00:17:45.595 --> 00:17:47.165
I've been devoted to internal audit
399
00:17:47.225 --> 00:17:50.525
and the i i a has supported me throughout that career.
400
00:17:51.065 --> 00:17:52.805
And it's been a real opportunity
401
00:17:52.825 --> 00:17:56.205
and an honor to be able to give back to the profession
402
00:17:56.205 --> 00:17:57.805
through the exam development committee
403
00:17:57.905 --> 00:17:59.885
and the Professional Certifications Board,
404
00:18:00.425 --> 00:18:02.365
and, uh, being able to be a part
405
00:18:02.365 --> 00:18:04.445
of the team here at the institute.
406
00:18:04.675 --> 00:18:05.645
Well, thanks again, Reagan.
407
00:18:05.645 --> 00:18:07.045
Thanks everyone for joining today.
408
00:18:07.235 --> 00:18:08.805
Yeah. Thank you all for, for joining us.
409
00:18:08.915 --> 00:18:10.645
Hopefully, you'll, hopefully everyone will
410
00:18:10.645 --> 00:18:11.765
go out there and apply for that.
411
00:18:11.845 --> 00:18:12.845
IAP
412
00:18:14.585 --> 00:18:16.405
If you're interested in taking the IAP
413
00:18:16.425 --> 00:18:18.405
or you just want a little bit more information,
414
00:18:18.745 --> 00:18:21.085
you can check out the show notes of this episode
415
00:18:21.225 --> 00:18:23.165
and you'll be able to find the link that will take you
416
00:18:23.965 --> 00:18:25.765
directly to our certifications page.
417
00:18:26.385 --> 00:18:28.685
You can also visit the ia.org
418
00:18:28.985 --> 00:18:30.965
and select our certifications tab.
419
00:18:31.235 --> 00:18:33.245
That way you'll be able to navigate your way
420
00:18:33.245 --> 00:18:35.525
through different types of certifications that we do.
421
00:18:35.535 --> 00:18:39.885
Offer banking on big changes will spark your next audit
422
00:18:39.885 --> 00:18:42.965
breakthrough at the 2025 Financial Services Exchange,
423
00:18:43.645 --> 00:18:47.605
November 3rd to the fourth in Washington DC, or virtually.
424
00:18:47.835 --> 00:18:50.045
Gain Fresh Insights Network with peers
425
00:18:50.265 --> 00:18:52.405
and earn up to 13 CPEs.
426
00:18:52.755 --> 00:18:55.805
Head to the iiaa.org to reserve your spot. Now.
427
00:18:56.825 --> 00:18:59.485
If you like this podcast, please subscribe and rate us.
428
00:18:59.665 --> 00:19:01.885
You can subscribe wherever you get your podcasts.
429
00:19:02.145 --> 00:19:06.125
You can also catch other episodes on YouTube or@theiiaa.org.
430
00:19:06.345 --> 00:19:10.045
That's THE iia.org.
