IIA Advanced Diploma in Internal Auditing and Management
The Advanced Diploma in Internal Auditing and Management is designed for experienced and senior level auditors, and for qualified accountants who want a specific qualification in internal auditing.
It develops and tests students' knowledge of strategic management, financial management, risk assurance and audit management, as well as their knowledge of core internal auditing practice. Successful students are able to interact with directors and senior management at a strategic level on complex issues of risk, ethics and governance in the context of a global business environment.
The Advanced Diploma provides an opportunity for those moving up the internal auditing career ladder and for those with significant experience in internal auditing to develop further their knowledge and skills.
Successful Advanced Diploma students will be able to:
- Demonstrate management level internal audit competencies
- Engage effectively with audit committees and make board level presentations
- Develop a strategic understanding of the internal audit function
- Provide high-level assurance to senior management
- Maintain the professional independence of their internal audit function.
What are the features and contents of the qualification?
The Advanced Diploma comprises three theory modules, one case study module, one skills module and one professional experience module. The three theory modules are:
- M1 - Strategic Management
- M2 - Financial Management
- M3 - Risk Assurance and Audit Management
The case study module is:
- M4 - Advanced Internal Auditing Case Study
The skills module is:
- Advanced Business Communication (optional)
The professional experience module comprises a record of your employment showing your responsibilities and outcomes and a summary of your skills.
Can the exams for the theory modules be taken in any order?
The Advanced Internal Auditing Case Study exam must be taken last. However, this can be taken at the same time as other exams.
What level is the qualification?
The academic level of the Advanced Diploma in Internal Auditing and Management is equivalent to a Post Graduate Diploma.
How long will it take to complete?
You will have up to three years to pass all of your exams, complete the skills module, and complete your professional experience module.
Depending on your personal situation, it could take between 800 and 1000 hours to complete the Advanced Diploma, plus the time needed to complete your professional experience module. The theory modules should each take between 200 and 250 hours, including your formal course of study, reading, research, discussions, reflection, assignments and exam preparation. The skills module is optional and should take approx 22 hours in total.
Will it give me a designation?
Yes, the designation for the Advanced Diploma in Internal Auditing and Management is MIIA.
What are the entry requirements?
Entry to the Advanced Diploma in Internal Auditing and Management requires individuals to have completed one of the following qualifications:
- The Diploma in Internal Audit Practice
- A CCAB accounting qualification
- A post-graduate level qualification or recognised professional qualification from the Institute's approved list
Direct entry to the Advanced Diploma in Internal Auditing and Management may also be available if you have more than three years' experience at a senior level. To apply, you must send a current CV and either a letter of support from your current or most recent employer, or a major client, with your application. You may also be asked to take part in a telephone interview.
What happens after I achieve the Advanced Diploma in Internal Auditing and Management?
Successful students are entitled to use the designatory letters MIIA and become voting members of the Institute.
Will I be eligible for any exemptions?
You might be, depending on your previous professional qualifications.
How will I be assessed?
Each of the four theory modules is examined through a three-hour exam. The papers might include short answer questions, essays and case studies. Exams are held twice a year in November and June in locations around the UK and Ireland, overseas sittings are also possible.
You must also complete a professional experience module, recording your internal auditing experience.
Where do I go for tuition?
Tuition is not compulsory when studying the Advanced Diploma in Internal Auditing and Management. However, there are clear benefits to tuition. There are a number of tuition providers in the UK and Ireland offering courses of study.
Do I have to become an IIA member?
Yes, you must become a student member of the Institute before enrolling on an IIA qualification.
When should I apply to enrol on the qualification?
First, you need to register with the Institute as a student member. You can do this at any time. Tuition for the Advanced Diploma is optional, but if you wish to take tuition, you should check the enrolment deadlines with your chosen provider.
Our exams are held twice a year, in November and June. You must allow yourself enough time to register as a student, and to prepare for and enter the exams.
For example, if you wish to take tuition from IIA Learning for the November exams, you must become a student member and enrol on the programme in May. If you wish to take exams in June you must become a student member and enrol on the programme by January.
How much will it cost to complete the Advanced Diploma?
Membership fees depend on the time taken to complete the qualification. The skills module (optional) will cost approximately £750 and the examinations themselves will cost £100 + VAT each. Tuition for the four examined modules can cost between £2200 and £4000, depending on your choice of tuition provision; although tuition provision is not compulsory. VAT is payable on some elements of these costs. Exemptions will clearly reduce the costs substantially.
Where do I go for more information?
If you have any further questions, email the student support coordinator or telephone 020 7819 1907.