Top 10 Audit Supervisor Certifications

Certifications are important for an audit supervisor in the job market because they demonstrate a level of competence and knowledge. Certifications provide employers with evidence that the candidate has gone through rigorous training and education and is qualified to perform specific tasks. Additionally, certifications help to demonstrate a commitment to professional development and can open up opportunities for career advancement. Certifications also make it easier for employers to compare potential candidates, as employers can use the certifications as a benchmark for assessing qualifications and experience. Finally, certifications can serve as an indicator of professional credibility, which is especially important when dealing with clients or other external stakeholders.

The purpose of this article is to review the top certifications for Audit Supervisors and explain how they can benefit an audit supervisor's career.

What are Audit Supervisor Certifications?

Audit supervisor certification is a program designed to provide supervisors with the knowledge and skills necessary to effectively manage and lead an audit team. The certification focuses on developing the audit leadership capabilities of supervisors, including auditing techniques, process improvement, communication skills, conflict resolution, and other areas related to managing an audit team. This certification can help supervisors become more effective in their roles by providing them with the tools and resources necessary to develop their leadership skills. It also helps supervisors stay current in industry standards and regulations so they can ensure that their teams are meeting those standards. By having a supervisor certified in auditing, organizations can be assured that their audit teams are well trained and knowledgeable about the latest processes and procedures for conducting successful audits.

Pro Tip: Ensure that the audit supervisor certification program you choose is accredited by a recognized professional body, such as the Institute of Internal Auditors (IIA). This will ensure that the certification is accepted in the industry and that it meets professional standards.

Related: What does an Audit Supervisor do?

Top 10 Audit Supervisor Certifications

Here’s our list of the best certifications available to Audit Supervisors today.

1. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is the most widely recognized and respected credential for internal auditors. The CIA designation demonstrates a mastery of the knowledge and skills required to perform internal audits in accordance with the International Standards for the Professional Practice of Internal Auditing.

To obtain the CIA designation, individuals must meet certain eligibility requirements, pass three exams, and agree to abide by the IIA’s Code of Ethics. The process typically takes between six months and two years to complete, depending on individual study habits and commitment level.

In order to be eligible for the CIA program, individuals must have a bachelor’s degree from an accredited college or university; two years of professional experience in internal auditing, control, or related activities; and pass an ethics assessment administered by the IIA.

The cost for obtaining the CIA designation varies depending on membership status with IIA, exam fees, study materials purchased, and other factors. Generally speaking, expect to pay anywhere from $1,000 - $2,000 USD for all related costs.

2. Certified Information Systems Auditor (CISA)

Certified Information Systems Auditor (CISA) is a professional certification offered by the Information Systems Audit and Control Association (ISACA). It is designed to recognize individuals who have achieved a high level of expertise in the field of information systems auditing, control, and security. CISA certification demonstrates an individual's knowledge and experience in assessing vulnerabilities, ensuring compliance with regulations, developing audit procedures, and managing risk.

It typically takes between six months to one year to prepare for the CISA exam. To become certified, applicants must pass a three-hour multiple-choice exam that covers topics such as IT governance and management, information systems acquisition, development, and implementation; information systems operations, maintenance, and support; protection of information assets; business continuity planning; and regulatory compliance.

In order to be eligible for the CISA exam, applicants must have at least five years of professional experience in IS audit control or security within the last 10 years. Alternatively, they can substitute three years of relevant work experience with an additional two years of higher education or professional certifications related to IS audit control or security.

The cost of taking the CISA exam varies depending on where you take it. In most countries it costs around $700 USD for members of ISACA ($1125 USD for non-members). Additionally there are fees associated with application processing ($50 USD), recertification ($45 USD), and annual membership dues ($115 USD).

3. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given to accountants who have passed the Uniform CPA Examination and met additional state education and experience requirements for certification. CPAs are licensed by the state in which they practice and must adhere to a code of professional conduct.

In order to become a CPA, individuals must meet certain educational, experience, and examination requirements established by their state board of accountancy. Generally, these requirements include completing 150 semester hours of college coursework with an emphasis on accounting, passing the CPA Exam, and having at least one year of relevant work experience. The amount of time it takes to complete all of these requirements can vary from person to person depending on their individual situation.

To become a CPA, individuals must first obtain an undergraduate degree in accounting or a related field from an accredited college or university. After completing their degree, they must then take the CPA Exam administered by the American Institute of Certified Public Accountants (AICPA). The exam consists of four sections that cover topics such as auditing and attestation services; business environment and concepts; financial accounting and reporting; regulation; and taxation. Once they have successfully passed all four sections of the exam, they will be eligible for licensure in their state.

The cost to become a CPA varies depending on factors such as tuition costs for college courses, fees associated with taking the CPA Exam, licensing fees charged by the state board of accountancy, and other expenses related to obtaining relevant work experience. In general, individuals should expect to spend several thousand dollars in order to become a certified public accountant.

4. Certified Fraud Examiner (CFE)

A Certified Fraud Examiner (CFE) is a professional designation given by the Association of Certified Fraud Examiners (ACFE). CFEs are experts in the detection and prevention of fraud. They possess specialized knowledge and skills to investigate financial crimes such as embezzlement, money laundering, identity theft, and other forms of fraud.

It typically takes between two and four years to become a Certified Fraud Examiner. To get certified, individuals must first meet the eligibility requirements set by the ACFE. This includes having a minimum of two years of professional experience in fraud-related activities or a college degree in accounting, finance, or criminal justice. Once these requirements have been met, applicants must pass an exam administered by the ACFE that covers topics such as white collar crime, investigative techniques, evidence collection and analysis, legal elements of fraud cases, and interviewing techniques.

The cost to become a Certified Fraud Examiner varies depending on the country you live in. In the United States, it costs $325 for members of the ACFE and $425 for non-members to take the exam. The cost also includes access to study materials and practice exams. Additional fees may apply if you need to retake the exam or if you want to receive additional certifications from other organizations related to fraud examination.

5. Certified Government Auditing Professional (CGAP)

Certified Government Auditing Professional (CGAP) is a professional certification program offered by the Institute of Internal Auditors (IIA). It is designed to recognize individuals who have achieved a high level of proficiency in government auditing. This certification is intended for those who are involved in government auditing, such as internal auditors, external auditors, and other audit professionals.

The CGAP exam consists of 150 multiple-choice questions that cover topics such as risk assessment, financial statement analysis, fraud detection, and internal control systems. The exam takes approximately four hours to complete. Candidates must pass the exam with a score of 70% or higher in order to receive the CGAP certification.

In order to be eligible for the CGAP exam, candidates must meet certain prerequisites. These include having at least two years of experience in government auditing or related fields; completing an approved training course; and completing an application form with supporting documents.

The cost of taking the CGAP exam varies depending on where you take it; however, it typically costs around $800-$1,000 USD.

6. Certified Financial Services Auditor (CFSA)

Certified Financial Services Auditor (CFSA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is designed to recognize individuals who have demonstrated an advanced level of knowledge and proficiency in auditing financial services organizations. The CFSA credential is the only globally recognized certification specifically designed for internal auditors in the financial services industry.

It typically takes between three to six months to prepare for and pass the CFSA exam, depending on your experience level. To become certified, you must first meet certain eligibility requirements, including having two years of full-time internal audit experience or equivalent in a financial services organization and passing an examination. You can also obtain credits towards the CFSA designation through IIA's Certified Internal Auditor (CIA) program.

The cost of becoming a CFSA varies depending on where you take the exam and how much preparation you do beforehand. Generally speaking, it will cost around $1,000-$2,000 for tuition fees, textbooks and other materials needed to prepare for the exam. Additionally, there is an application fee of $100 that must be paid when registering for the exam.

7. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation awarded by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). It recognizes individuals who have demonstrated expertise in management accounting, financial strategy, and business analysis. The CGMA designation is designed to help professionals stay ahead of the curve in an ever-evolving global economy.

The CGMA program consists of three components: an online self-study course, a comprehensive exam, and an ethics assessment. The self-study course covers topics such as financial reporting, budgeting and forecasting, cost management, decision making, performance measurement, risk management and more. The comprehensive exam tests knowledge in these areas and assesses a candidate’s ability to apply that knowledge in real-world situations. Finally, the ethics assessment evaluates a candidate’s understanding of ethical principles and their application to professional practice.

It typically takes about six months to complete all three components of the CGMA program. Candidates should plan to spend at least 40 hours studying for the self-study course and exam combined.

To become a CGMA, candidates must first register with AICPA or CIMA depending on where they are located. After registering with one of these organizations, candidates can then purchase access to the online self-study course through AICPA or CIMA's website. Once they have completed the self-study course and passed the comprehensive exam, they will need to complete an ethics assessment before being awarded their CGMA designation.

The cost for becoming a CGMA varies depending on which organization you register with (AICPA or CIMA), but generally ranges from $400-$1,000 USD including registration fees and access to the online self-study course materials.

8. Certified Risk Management Assurance (CRMA)

Certified Risk Management Assurance (CRMA) is a professional certification offered by the American Academy of Financial Management (AAFM). It is designed to provide financial professionals with the knowledge and skills necessary to effectively manage risk in their organizations. The CRMA program focuses on identifying, assessing, and mitigating risk across all areas of an organization.

The CRMA program consists of four parts: a comprehensive online course, a final exam, an online application process, and a personal interview. The online course covers topics such as risk management principles, strategies for managing risk, and tools for measuring and monitoring risk. The final exam tests the candidate’s understanding of the material covered in the course. Upon successful completion of the exam, candidates submit an online application for review by AAFM staff. After successful completion of both the course and the exam, candidates must pass a personal interview with a certified AAFM member before they are awarded their CRMA certification.

The entire process takes approximately six months to complete. Candidates should plan to spend at least 10-15 hours per week studying for the course and preparing for the final exam.

The cost of obtaining a CRMA certification varies depending on which package you choose when registering for the program. The basic package costs $1,495 USD and includes access to all materials needed to complete the program including textbooks, study guides, practice exams and more. Other packages range from $2,995 - $3,995 USD depending on additional services such as one-on-one coaching or mentoring services from AAFM members.

9. Professional Risk Manager (PRM)

Professional Risk Manager (PRM) is a certification offered by the Professional Risk Managers' International Association (PRMIA). It is designed to provide professionals with the knowledge and skills necessary to effectively manage risk in their organizations. The PRM certification program consists of three levels: Foundations, Advanced, and Expert.

The Foundations level is intended for individuals new to the field of risk management. It focuses on understanding the fundamentals of risk management, including topics such as identifying and measuring risk, developing strategies for mitigating risk, and implementing risk management processes. This level typically takes around 40 hours to complete.

The Advanced level builds on the concepts learned at the Foundations level, focusing on more complex topics such as enterprise-wide risk management, financial modeling techniques, portfolio optimization techniques, and stress testing. This level typically takes around 80 hours to complete.

The Expert level is intended for experienced professionals who have already completed both the Foundations and Advanced levels of PRM certification. It focuses on advanced topics such as asset/liability management, capital allocation strategies, derivatives pricing models, and advanced credit analysis techniques. This level typically takes around 120 hours to complete.

In order to obtain a PRM certification, individuals must pass an exam at each of the three levels of certification. Exams are administered by Prometric Testing Centers worldwide and cost $220 per exam ($660 total). In addition to passing all three exams, individuals must also meet certain educational requirements in order to receive their PRM designation.

10. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation awarded by the Certified Financial Planner Board of Standards, Inc. (CFP Board). It is a certification that demonstrates an individual’s knowledge and proficiency in financial planning. CFPs are held to a high standard of professional ethics and must adhere to the CFP Code of Ethics and Professional Responsibility.

It typically takes two to three years to complete the requirements for the CFP certification. To become certified, individuals must meet education, examination, experience and ethics requirements set forth by the CFP Board. Education requirements include completing college-level courses in financial planning topics such as investments, insurance, taxes, retirement planning and estate planning. The examination requirement includes passing the comprehensive 10-hour CFP Certification Examination administered by the CFP Board. Experience requirements include working for at least three years in a financial planning related role or completing a minimum number of client engagements under direct supervision of an approved mentor or supervisor. Lastly, applicants must pass background checks and agree to abide by the CFP Code of Ethics and Professional Responsibility prior to being granted certification status.

The cost of becoming a certified financial planner varies depending on what type of program you choose to pursue your certification through. Generally speaking, it costs anywhere from $2,000-$5,000 for tuition plus additional fees for books and materials needed throughout your studies.

Do You Really Need a Audit Supervisor Certificate?

Whether you need an audit supervisor certificate or not depends on your current job and career ambitions. If you are in a position as an auditor or a similar finance role, then obtaining an audit supervisor certificate may be beneficial to help you further your career. The certificate can demonstrate to employers that you have the necessary skills and knowledge to successfully manage auditing processes and operations.

The certification is offered by many professional organizations, such as the Institute of Internal Auditors (IIA). It covers topics such as risk assessment, internal control systems, fraud prevention, data analysis, financial reporting standards and more. The coursework is designed to equip auditors with the knowledge they need to effectively lead teams and manage audit processes.

Having an audit supervisor certificate may give you an edge when applying for jobs or promotions in the field of finance and accounting. It could also be useful if you’re looking to move into a managerial role in another company or industry. Employers may also find it reassuring if they know that their staff are qualified and up-to-date with the latest best practices in auditing.

Ultimately, whether or not you need an audit supervisor certificate will depend on your individual career goals and objectives. If it aligns with those goals then obtaining one could prove to be a valuable asset for your professional development.

Related: Audit Supervisor Resume Examples

FAQs About Audit Supervisor Certifications

1. What qualifications are needed to become an Audit Supervisor?

Answer: To become an Audit Supervisor, you must have a bachelor’s degree in accounting or related field and at least 5 years of experience in auditing or related financial fields.

2. How do I obtain Audit Supervisor Certification?

Answer: You can obtain Audit Supervisor Certification by taking the Certified Internal Auditor (CIA) exam offered by the Institute of Internal Auditors (IIA).

3. How long does it take to complete the Certification process?

Answer: The certification process usually takes 6-12 months depending on how much time you are able to dedicate to studying for the exam and completing other requirements such as attending conferences and seminars.

4. What is the cost of obtaining Audit Supervisor Certification?

Answer: The cost of obtaining Audit Supervisor Certification varies depending on which organization you choose to take the exam through, but typically ranges from $700-$1500 USD.

5. Is there any continuing education required after becoming an Audit Supervisor?

Answer: Yes, once you become an Audit Supervisor, it is important to maintain your certification by completing continuing education credits every three years.