Top 11 Compliance Auditor Certifications

Certifications are an important part of a compliance auditor’s professional development and demonstrate to potential employers that the individual has the necessary knowledge and skills to perform the job effectively. Certification provides a tangible measure of expertise, which is essential for any compliance auditor in today’s competitive job market. It also demonstrates that the auditor has taken the initiative to stay up to date with industry standards and regulations, as well as best practices. Certifications can also provide a level of assurance that an auditor is knowledgeable and experienced enough to handle complex compliance tasks. In addition, certifications often come with continuing education credits that allow auditors to maintain their credentials, giving them an edge over non-certified competitors in the job market.

This article reviews the most beneficial certifications for Compliance Auditors, providing insight into how they can help further a career in compliance auditing.

What are Compliance Auditor Certifications?

Compliance auditor certification is a professional credential that acknowledges an individual’s knowledge, skills and abilities in the areas of compliance auditing and risk management. Compliance auditors are expected to have a thorough understanding of applicable laws, regulations and standards related to their industry. This certification verifies that an individual has the necessary qualifications to conduct effective compliance audits and provides assurance that they have the knowledge and experience required to identify weaknesses in internal controls and processes.

The primary benefit of having a certified compliance auditor is that it helps organizations ensure they are meeting all relevant requirements. By having someone who is certified in this area, companies can be confident that their audit processes are conducted in accordance with best practices and applicable laws. Furthermore, having a certified compliance auditor on staff can provide organizations with peace of mind knowing that any issues uncovered during the audit process will be properly addressed. Additionally, having a certified auditor may help improve an organization's overall reputation as it demonstrates their commitment to meeting regulatory requirements.

Pro Tip: When considering compliance auditor certification, be sure to research the certifying body and their requirements to ensure that you are getting a certification that carries weight in your industry.

Related: What does a Compliance Auditor do?

Top 11 Compliance Auditor Certifications

Here’s our list of the best certifications available to Compliance Auditors today.

1. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). The CIA designation is the most recognized and respected credential in the internal audit profession. It is designed to demonstrate that an individual has achieved a high level of proficiency in the field of internal auditing.

The CIA program consists of three parts: Part 1 – The Internal Audit Basics, Part 2 – Practice of Internal Auditing, and Part 3 – Business Knowledge for Internal Auditing. Each part includes multiple-choice and essay questions. To become a Certified Internal Auditor, you must pass all three parts within five years.

To get your CIA certification, you must first meet certain eligibility requirements. These include having at least two years of professional experience in internal auditing or a related field, as well as completing at least 120 hours of continuing professional education (CPE) credits over the past three years. Once you have met these requirements, you can register for the exam through the IIA website.

The cost to take the CIA exam varies depending on which country you are taking it in and which type of exam you are taking (paper-based or computer-based). Generally speaking, it costs around $400-$500 USD per part to take the exam.

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 demonstrate an individual’s knowledge and experience in information systems auditing, control, and security. The CISA certification is highly sought after by employers as it demonstrates a commitment to the profession and a mastery of the skills needed to perform information systems audits.

In order to become certified, candidates must meet certain eligibility requirements, including having at least five years of cumulative work experience in information systems auditing, control or security. Candidates must also pass the CISA exam which covers topics such as IT governance, risk management, compliance, audit process and techniques.

The exam consists of 200 multiple-choice questions which must be completed within four hours. The cost for the exam is $575 for ISACA members and $760 for non-members. After passing the exam, candidates are required to submit an application for certification which includes providing proof of their work experience as well as agreeing to adhere to ISACA’s Code of Professional Ethics.

Once approved, CISA certification holders must complete continuing professional education (CPE) credits every three years in order to maintain their certification status. The cost for maintaining CISA certification varies depending on whether you are an ISACA member or not; members pay $45 per year while non-members pay $85 per year.

3. Certified Compliance and Ethics Professional (CCEP)

Certified Compliance and Ethics Professional (CCEP) is a professional certification offered by the Society of Corporate Compliance and Ethics (SCCE). It is designed to recognize individuals who have demonstrated knowledge, skills, and abilities in the areas of corporate compliance and ethics. The CCEP certification is intended to demonstrate that an individual has achieved a level of expertise in the field.

The CCEP certification requires that applicants have at least five years of experience in a compliance or ethics related role, including three years of management experience. Applicants must also pass an exam that consists of multiple-choice questions covering topics such as legal and regulatory compliance, risk management, corporate governance, and ethical decision making.

It typically takes between six months to one year to complete the CCEP certification process. This includes studying for the exam, submitting an application for review, and taking the exam.

To get started with the CCEP certification process, applicants must first register with SCCE. Registration fees are $250 for members and $450 for non-members. After registering, applicants can purchase study materials from SCCE which include practice exams and other resources to help prepare for the exam. Once ready to take the exam, applicants must pay an additional fee of $400 for members or $600 for non-members.

In total, it costs approximately $650-$850 to become certified as a CCEP depending on whether you are a member or non-member of SCCE.

4. Certified Fraud Examiner (CFE)

A Certified Fraud Examiner (CFE) is a professional designation awarded by the Association of Certified Fraud Examiners (ACFE). The CFE credential is designed to recognize individuals who have demonstrated knowledge and experience in fraud detection, deterrence, investigation and prevention.

It typically takes between six months to one year to become a Certified Fraud Examiner. To get the credential, you must pass the four-part CFE Exam, which covers topics such as financial transactions and fraud schemes, legal elements of fraud, investigation and interviewing techniques, and fraud prevention and deterrence. You must also have two years of professional experience related to fraud examination or an equivalent combination of education and experience.

The cost for the CFE Exam varies depending on your membership status with the ACFE. For non-members, it costs $400 per exam part; for members, it costs $300 per exam part. Once you’ve passed all four parts of the exam, there is an annual $50 renewal fee to maintain your certification.

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 and reward those individuals who demonstrate a high level of knowledge and proficiency in government auditing. The CGAP certification program is based on the International Standards for the Professional Practice of Internal Auditing, which are developed and maintained by the IIA.

The CGAP certification process consists of two parts: an online application and an exam. The online application requires candidates to provide information about their educational background, work experience, and other relevant qualifications. Once approved, candidates must then successfully pass a multiple-choice exam administered by the IIA. The exam covers topics such as government audit standards, risk management, internal controls, financial statement analysis, fraud examination, and more.

The CGAP certification process typically takes between four to six months to complete. Candidates must pay an application fee of $150 plus a $200 examination fee when they submit their application. Additionally, there may be additional fees associated with taking the exam at a testing center or using certain study materials.

6. Certified Financial Services Auditor (CFSA)

Certified Financial Services Auditor (CFSA) is a professional designation for auditors who specialize in financial services. The CFSA certification is awarded by the Institute of Internal Auditors (IIA) and is designed to recognize individuals who have demonstrated expertise in the field of financial services auditing.

The CFSA certification requires candidates to pass two exams, both of which are administered by the IIA. The first exam covers topics such as risk management, internal control systems, and financial statement analysis. The second exam focuses on auditing procedures specific to financial services organizations.

Candidates must also meet certain experience requirements before they can take the CFSA exams. To qualify for the CFSA designation, applicants must have at least three years of professional experience in financial services audit or related fields.

In order to maintain their certification, CFSAs must complete 40 hours of continuing professional education every two years.

It typically takes between six months and one year to complete all requirements for the CFSA certification.

The cost of obtaining the CFSA certification varies depending on where you take your exams and how much study material you purchase. Generally speaking, it will cost around $1,000-$2,000 USD to become a Certified Financial Services Auditor.

7. Certified Risk Management Assurance (CRMA)

Certified Risk Management Assurance (CRMA) is a professional certification program developed by the American Academy of Financial Management (AAFM). The CRMA designation is designed to recognize and validate the experience, knowledge, and competency of professionals in the field of risk management.

The CRMA certification program consists of two components: an online course and an exam. The online course covers topics such as risk management principles, risk assessment techniques, and risk management strategies. The exam tests a candidate’s knowledge on these topics.

The CRMA certification can be earned in as little as six months by completing the online course and passing the exam with a score of 70% or higher. The cost for the online course is $1,500 USD, which includes all materials needed to complete the course. The exam fee is $400 USD.

In order to maintain the CRMA designation, candidates must complete continuing education requirements every three years. This includes completing at least 30 hours of approved continuing education activities related to risk management within that three-year period.

8. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation that recognizes the expertise of management accountants in providing strategic financial guidance and decision-making. It is awarded by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA).

To get the CGMA designation, you must have a valid CPA license or equivalent certification, plus two years of experience in management accounting or related fields. You must also pass an exam administered by AICPA/CIMA. The exam consists of four sections: Financial Reporting and Analysis, Strategic Business Management, Internal Controls and Professional Ethics & Governance.

The cost to obtain the CGMA designation varies depending on your country of residence. In the United States, it costs $1,200 for members and $1,500 for non-members. It typically takes between three to six months to complete all requirements for obtaining the CGMA designation.

9. Certified Regulatory Compliance Manager (CRCM)

Certified Regulatory Compliance Manager (CRCM) is a professional certification offered by the Institute of Certified Bankers (ICB), a subsidiary of the American Bankers Association (ABA). The CRCM certification is designed to recognize individuals who have achieved a high level of expertise in the area of regulatory compliance.

The CRCM certification requires applicants to have at least three years of experience in the banking industry, including two years in a compliance-related role. Applicants must also pass an exam that covers topics such as consumer protection, anti-money laundering, and other banking regulations.

To obtain the CRCM certification, applicants must first complete an online application and pay a $395 fee. Once approved, applicants can register for the exam, which consists of 150 multiple choice questions and takes approximately four hours to complete. The exam fee is $295.

Once applicants have passed the exam, they will receive their official certificate from ICB and become certified as a Regulatory Compliance Manager. The certification is valid for three years and must be renewed every three years by completing continuing education credits or retaking the exam.

10. Certified Public Accountant (CPA)

Certified Public Accountant (CPA) is a professional designation that is granted by the American Institute of Certified Public Accountants (AICPA). CPAs are licensed professionals who provide financial services, including auditing, tax preparation, and financial planning. They are also responsible for maintaining accurate records and preparing financial statements.

It typically takes four to five years to become a CPA. The process begins with obtaining an undergraduate degree in accounting or a related field from an accredited college or university. After graduating, individuals must pass the Uniform CPA Examination administered by the AICPA and meet their state’s requirements for licensure. This includes completing continuing education courses and meeting certain ethical standards.

The cost of becoming a CPA varies depending on the individual’s state of residence as well as other factors such as exam fees and educational costs. Generally speaking, however, it can cost anywhere from $2,000 to $4,000 to become certified in most states.

In addition to passing the exam and meeting state requirements, CPAs must adhere to the AICPA Code of Professional Conduct which sets forth ethical standards for accountants. These include maintaining confidentiality when dealing with clients’ information and avoiding conflicts of interest when providing services.

11. Chartered Professional Accountant (CPA Canada/CPA Australia).

Chartered Professional Accountant (CPA) is a professional designation given to those who have met the educational, experience and examination requirements set by CPA Canada or CPA Australia. It is the highest standard of accounting certification in both countries and is recognized internationally.

In order to become a Chartered Professional Accountant, you must first meet the educational requirements set by CPA Canada or CPA Australia. Generally, this requires completing an undergraduate degree in accounting or business with a minimum grade point average of 3.0 or higher, as well as completing additional coursework in taxation, auditing, financial reporting and management accounting. Once you have completed your studies, you must then pass the Uniform Evaluation (UFE), which is a three-day exam that tests your knowledge and skills in all areas of accounting.

The process of becoming a Chartered Professional Accountant typically takes between two and four years depending on how quickly you complete your studies and pass the UFE exam.

Once you have met all of the educational requirements for becoming a Chartered Professional Accountant, you must then apply for membership with either CPA Canada or CPA Australia. This application process includes submitting proof of your qualifications such as transcripts from university or college courses taken, passing scores from the UFE exam, references from employers or colleagues and other documents required by each organization.

The cost of becoming a Chartered Professional Accountant varies depending on where you live and which organization you are applying through. Generally speaking, it can cost anywhere from $500-$2000 USD to become certified with CPA Canada or CPA Australia. This cost includes fees for registration, examinations and membership dues.

Do You Really Need a Compliance Auditor Certificate?

The short answer to this question is no, you do not need a Compliance Auditor Certificate in order to be successful in the field of compliance auditing. However, if you are looking to further your career or to increase your credibility as an auditor, then a certificate can be beneficial.

A Compliance Auditor Certificate signifies that you have completed a course of study related to compliance auditing and that you understand the principles and regulations involved in this profession. It demonstrates that you have taken the time and effort to educate yourself on the subject and are therefore more knowledgeable than someone who has not taken such a course. This can make it easier for employers to identify competent candidates when they are considering hiring someone for a position related to compliance auditing.

In addition, having a Compliance Auditor Certificate may make it easier for you to find employment opportunities, as many companies prefer candidates with formal education or certification in their field. Furthermore, having this certification may also help you advance in your career by demonstrating that you have specialized knowledge and skills relevant to the profession.

Overall, although having a Compliance Auditor Certificate is not necessary for success in this field, it can certainly be beneficial in helping you stand out from other applicants and advance your career.

Related: Compliance Auditor Resume Examples

FAQs About Compliance Auditor Certifications

1. What is a Compliance Auditor Certification?

Answer: A Compliance Auditor Certification is a professional certification that demonstrates an individual’s knowledge and skills in the field of compliance auditing. It can be earned by passing an examination administered by a recognized organization, such as the Institute of Internal Auditors (IIA).

2. What are the benefits of having a Compliance Auditor Certification?

Answer: Having a Compliance Auditor Certification provides an individual with greater job opportunities and higher salaries. It also shows employers that the individual has the necessary skills to effectively audit for regulatory compliance. In addition, having this certification can provide assurance to stakeholders that their investments are being managed properly.

3. How do I become certified as a Compliance Auditor?

Answer: To become certified as a Compliance Auditor, you must pass an examination administered by a recognized organization, such as the Institute of Internal Auditors (IIA). You will also need to demonstrate your knowledge and experience in compliance auditing through coursework or practical experience.

4. How often do I need to renew my Compliance Auditor Certification?

Answer: Renewal requirements vary depending on the certification body but generally certification must be renewed every three years in order to remain valid.

5. Are there any continuing education requirements for maintaining my Compliance Auditor Certification?

Answer: Yes, most certifying organizations require individuals to complete continuing education courses in order to maintain their certification status. These courses help ensure that individuals keep up-to-date with changes in regulations and best practices related to compliance auditing