Top 11 Inventory Auditor Certifications

Certifications are extremely important for inventory auditors in the job market as they demonstrate expertise, knowledge, and experience. Certified inventory auditors may be more attractive candidates when compared to non-certified auditors in the job market.

Certifications also provide assurance that an auditor has met specific requirements and has proven competency in the field. They can also help build trust with employers since certifications typically involve a rigorous examination process. This can help employers feel confident in an auditor’s ability to properly assess their inventory system and give meaningful recommendations for improvement.

In addition, certifications provide inventory auditors with access to professional networks and resources that may not be available to non-certified professionals. This can include access to industry events, conferences, publications, and continuing education opportunities which can help keep an auditor up to date on best practices and new developments in the field.

This article reviews the top certifications for Inventory Auditors and explains how they can help to advance an inventory auditor's career.

What are Inventory Auditor Certifications?

Inventory auditor certification is a form of professional recognition that demonstrates an individual's expertise in assessing the accuracy of inventory records and related activities. An inventory auditor certification can be obtained through various training programs and certifying organizations. It provides a way to demonstrate proficiency in auditing inventory operations, increasing credibility and trustworthiness when dealing with clients or employers.

The primary benefit of obtaining an inventory auditor certification is that it provides the recipient with greater job security and higher earning potential. It also allows them to stay up-to-date on the latest industry trends, best practices, and regulations governing inventory management. This helps them provide more accurate assessments and advice to their clients or employers, which can lead to increased customer satisfaction as well as cost savings. Furthermore, having an inventory auditor certification can open doors for future career advancement opportunities due to the increased level of knowledge and expertise it shows.

Pro Tip: When looking for an inventory auditor certification, make sure to research the certifying body and its credentials. A reputable certifying body should have a track record of providing high quality training and certification programs that meet industry standards. Additionally, look for a program that offers continuing education opportunities to stay up-to-date with the latest developments in inventory audit techniques.

Related: What does an Inventory Auditor do?

Top 11 Inventory Auditor Certifications

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

1. Certified Professional Inventory Auditor (CPIA)

Certified Professional Inventory Auditor (CPIA) is a professional certification program offered by the National Inventory Certification Association (NICA). The CPIA designation is designed to demonstrate a high level of knowledge and expertise in inventory auditing.

The CPIA certification process consists of two parts: an online exam and an on-site audit. The online exam covers topics such as inventory accounting, auditing standards, and inventory management principles. It takes approximately three hours to complete the exam. After successful completion of the exam, applicants must pass an on-site audit conducted by NICA-certified auditors. During the audit, applicants must demonstrate their knowledge and understanding of inventory accounting principles, auditing standards, and inventory management techniques.

To become a Certified Professional Inventory Auditor, applicants must meet certain prerequisites including at least two years of experience in the field of inventory auditing or related fields. Applicants must also have completed at least 40 hours of continuing education in inventory auditing or related topics within the past three years prior to applying for the certification.

The cost for obtaining CPIA certification depends on several factors such as location, type of organization being certified, and number of employees being certified. Generally speaking, it costs around $2,000-$4,000 for a single employee to obtain CPIA certification.

2. Certified Inventory Auditor (CIA)

A Certified Inventory Auditor (CIA) is a professional designation offered by the American Society of Inventory Management (ASIM). The certification is designed to recognize individuals who have achieved a high level of proficiency in inventory management and auditing. The CIA designation demonstrates an individual’s commitment to professional development and their ability to effectively manage inventory processes.

The CIA program consists of an online exam, which is divided into two parts: a knowledge-based exam and a practical exam. The knowledge-based exam covers topics such as inventory management principles, systems, controls, and procedures. The practical exam tests the candidate’s ability to apply the knowledge gained from the knowledge-based portion of the exam.

It typically takes about six months for an individual to complete the entire CIA program. During this time, candidates must complete all coursework requirements and pass both exams with a score of at least 70%. Once these requirements are met, they will be awarded their CIA certification.

The cost of obtaining the CIA certification varies depending on the provider offering it. Generally speaking, it can range anywhere from $400-$800 USD.

3. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is the only globally accepted designation for internal auditors and demonstrates an individual’s competence, integrity, and objectivity in the practice of internal auditing.

The CIA certification process consists of three parts: passing the CIA exam, meeting experience requirements, and completing continuing professional education (CPE) credits. The exam is offered four times a year in June, September, December and March. The exam consists of three parts: Part 1 – Internal Audit Basics; Part 2 – Practice of Internal Auditing; and Part 3 – Business Knowledge for Internal Auditing. Candidates must pass all three parts to become certified.

In order to qualify for the CIA exam, candidates must have a minimum of a bachelor’s degree from an accredited college or university or its equivalent in work experience. Additionally, they must have at least two years of professional experience in internal auditing or a related field.

The cost to take the CIA exam varies depending on where you are taking it but generally ranges from $400-$600 USD per part. Additionally, there may be additional fees associated with registering for the exam such as application fees or late registration fees.

Once you have passed all three parts of the exam and met all other requirements for certification, you will receive your official Certified Internal Auditor certificate from IIA Global Headquarters in Florida.

4. Certified Fraud Examiner (CFE)

Certified Fraud Examiner (CFE) is a professional certification awarded by the Association of Certified Fraud Examiners (ACFE). The CFE credential is designed for anti-fraud professionals and recognizes individuals who have demonstrated knowledge, skills, and abilities in the detection and deterrence of fraud. It is the most widely recognized and respected anti-fraud credential in the world.

It typically takes about 6 months to prepare for the CFE exam. To become certified, you must pass a four-hour exam that covers topics such as financial transactions, fraud prevention and detection, investigation techniques, legal elements of fraud, and reporting procedures.

The cost to take the CFE exam varies depending on your ACFE membership status. For non-members, it costs $400 USD; for members, it costs $300 USD. Additionally, there are other fees associated with obtaining your CFE certification such as background check fees ($50 USD), application fee ($50 USD), and annual renewal fee ($50 USD).

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 promote excellence in government auditing. The CGAP credential is recognized as the premier professional credential for those who audit or advise on governmental financial activities.

The CGAP program requires successful completion of an online examination, which consists of 150 multiple-choice questions covering topics such as government accounting, auditing principles and practices, fraud prevention and detection, internal control systems, and other related topics. The exam takes approximately four hours to complete.

To be eligible to take the exam, applicants must have at least two years of experience in government auditing or consulting. They must also meet certain educational requirements, including a bachelor’s degree from an accredited college or university with a major in accounting or related field.

The cost for taking the exam is $450 for IIA members and $550 for non-members. After passing the exam, there is an annual renewal fee of $90 for IIA members and $110 for non-members.

6. Certified Public Accountant (CPA)

Certified Public Accountant (CPA) is a professional designation given to individuals who have met specific educational and work experience requirements, passed the Uniform CPA Exam, and are licensed by their state board of accountancy. CPAs are qualified to provide a wide range of accounting services including auditing, tax preparation, financial planning, and consulting.

In order to become a CPA, an individual must meet certain educational requirements in addition to passing the Uniform CPA Exam. Generally speaking, most states require that applicants have at least 150 semester hours of college credit in accounting or related fields. This typically includes a bachelor’s degree with an emphasis in accounting as well as additional coursework beyond the undergraduate level. Applicants must also have completed two years of full-time work experience in accounting or related fields before they can sit for the exam.

The Uniform CPA Exam is administered by the American Institute of Certified Public Accountants (AICPA). The exam consists of four sections: Auditing and Attestation; Business Environment and Concepts; Financial Accounting and Reporting; and Regulation. Each section is scored on a scale from 0-99 with 75 being the minimum passing score for each section. The entire exam takes approximately 16 hours to complete over two days.

The cost for taking the CPA exam varies depending on which state you are taking it in but generally ranges from $800-$1,000 for all four sections combined. Additionally, some states may require applicants to pay additional fees such as application fees or licensing fees upon completion of the exam which can add up quickly.

Overall, becoming a CPA requires significant commitment both academically and financially but can be very rewarding for those who choose this career path.

7. Chartered Global Management Accountant (CGMA)

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

To obtain the CGMA designation, you must have a bachelor’s degree or higher, two years of experience in management accounting or related fields, and pass the CGMA exam. The exam consists of four sections: Financial Strategy, Performance Management, Risk Management, and Professional Ethics. The exam typically takes about four hours to complete.

The cost for taking the CGMA exam varies depending on your country of residence. In the United States, it costs $395 for AICPA members and $495 for non-members. In other countries, fees may vary so it is best to contact your local CIMA office to find out more information.

Once you have passed the exam, you will receive a certificate recognizing your achievement as a Chartered Global Management Accountant. You will also be able to use the CGMA designation after your name on business cards and resumes.

8. Institute of Internal Auditors (IIA) Certification

The Institute of Internal Auditors (IIA) Certification is a professional certification program that provides recognition for internal auditors who have achieved a certain level of knowledge and experience in the field. This certification is designed to demonstrate an internal auditor’s commitment to excellence and their dedication to the profession.

It typically takes between one and two years to complete the IIA Certification program, depending on the individual's experience and background. To become certified, applicants must first pass a comprehensive exam that covers topics such as risk management, internal controls, financial reporting, and audit methodology. After passing the exam, applicants must then complete a rigorous course of study that includes both classroom instruction and practical experience.

To get started with the certification process, individuals should research available programs and determine which one best fits their needs. They should also review any prerequisites or requirements for admission into the program. Once they have identified an appropriate program, they will need to register for the exam and pay any associated fees.

The cost of obtaining IIA Certification varies depending on factors such as location, type of program chosen, and other factors. Generally speaking, it can range from several hundred dollars to several thousand dollars for tuition alone; additional costs may include books, materials, exam fees, and other expenses related to completing the program.

9. American Society for Quality (ASQ) Certification

The American Society for Quality (ASQ) is a professional organization dedicated to advancing the quality of products, services, and processes through education, training, and certification. ASQ offers various certifications in the fields of quality management, auditing, inspection, and more.

To get an ASQ certification, you must first become a member of the society. This can be done by filling out an online application form or by attending one of their conferences. Once you are a member, you will have access to their online courses and resources that will help you prepare for the certification exam.

The length of time it takes to get an ASQ certification depends on the type of certification you are seeking. Generally speaking, it could take anywhere from 6 months to a year or more depending on your current level of knowledge and experience.

To get an ASQ certification, you must pass an exam that covers topics such as quality management systems, process improvement strategies, auditing techniques, and more. The exam is administered by Pearson VUE at designated testing centers around the world.

The cost of getting an ASQ certification varies depending on the type of certification being sought and the geographic location where the exam is taken. Generally speaking, it could range from $100-$400 USD for most certifications.

10. International Association of Professional Inventory Managers and Auditors (IAPIMA) Certification

The International Association of Professional Inventory Managers and Auditors (IAPIMA) is a professional organization that provides certification for inventory managers and auditors. This certification is designed to provide recognition to those who have achieved a high level of proficiency in the field of inventory management and auditing.

In order to obtain this certification, applicants must first complete an IAPIMA-approved training program. The length of the program varies depending on the specific requirements set by IAPIMA, but typically takes between six months and two years to complete. During this time, applicants must demonstrate their knowledge and skills through coursework, exams, and practical experience.

Once the training program has been completed, applicants can then apply for the certification exam. This exam tests applicants’ knowledge of inventory management principles, techniques, tools, and best practices. Upon successful completion of the exam, applicants will receive their IAPIMA Certification.

The cost of obtaining IAPIMA Certification varies depending on the specific training program chosen by each applicant. Generally speaking, however, it can range from several hundred dollars to several thousand dollars. Additionally, there may be additional fees associated with taking the certification exam itself.

11. Association of Government Accountants' Certified Government Financial Manager (CGFM)

The Certified Government Financial Manager (CGFM) is a professional certification program designed by the Association of Government Accountants (AGA) to recognize the knowledge and skills of government financial managers. The CGFM program consists of three examinations that assess the candidate’s knowledge and competency in government financial management.

It typically takes about two years to complete all three exams, depending on the individual's study habits and work schedule. To get certified, candidates must pass each of the three exams:

-Governmental Environment

-Governmental Accounting, Financial Reporting, and Budgeting

-Governmental Financial Management and Control

The cost for each exam is $250, so it costs a total of $750 to become a CGFM. Candidates can register for the exams online at www.agacgfm.org or by calling 1-800-AGA-CERT (1-800-242-2378).

Do You Really Need a Inventory Auditor Certificate?

The short answer to this question is no, you do not need an inventory auditor certificate in order to become an inventory auditor. However, having a certificate can be beneficial for those who are looking to specialize in this field or demonstrate their expertise and experience.

An inventory auditor certificate can provide professionals with the necessary knowledge and skills to effectively audit inventories. It can also give them more credibility and recognition in the industry. Furthermore, having an inventory auditor certificate may open up job opportunities that might not be available without one.

In addition, an inventory auditor certificate may make it easier for employers to evaluate potential employees. By having a certification, potential employees will stand out from the competition and show that they have taken the extra steps needed to become proficient in their chosen field.

Overall, while there is no requirement for an inventory auditor certificate, it can be beneficial for those looking to enhance their credentials and gain recognition in the industry as well as open up job opportunities that might not otherwise be available without one.

Related: Inventory Auditor Resume Examples

FAQs About Inventory Auditor Certifications

1. What is an inventory auditor certification?

Answer: An inventory auditor certification is a credential that demonstrates proficiency in the principles and practices of auditing the accuracy of physical inventories, including counting and valuation techniques, as well as related financial reporting requirements.

2. How do I become certified as an inventory auditor?

Answer: To become certified as an inventory auditor, you must have a minimum of two years' relevant experience in inventory auditing and/or accounting, pass a comprehensive exam administered by a recognized professional organization such as the Institute of Internal Auditors (IIA), and maintain your credentials through continuing education credits.

3. Do I need to be certified to perform an inventory audit?

Answer: While many employers prefer to hire certified professionals, there is no requirement for certification to perform inventory audits. However, having a credential may give you an edge over other applicants for jobs or contracts involving inventory audits.

4. What topics are covered on the inventory auditor certification exam?

Answer: The exam covers topics such as auditing standards and procedures, internal controls related to inventories, observation techniques during physical counts and valuation methods for different types of inventories.

5. How often do I need to renew my inventory auditor certification?

Answer: The renewal period varies depending on the certifying organization but typically ranges from one to three years. You must complete continuing education credits in order to maintain your credential during this time period.