Benefits of chartered status

The Chartered Institute of Internal Auditors will work in the public interest with a number of benefits.

The CMIIA designation acknowledges members as experts in their field, raising their status and perceptions of the IIA qualifications.
Chartered members will be clearly differentiated from other professionals and seen as specialists in their own right. Individual members who already hold other professional qualifications will be able to access a similarly professional, specialist career path in internal audit.
As the status of the profession is raised, so demand for its qualified professionals will increase, broadening the market for chartered internal audit professionals.

Organisations employing Chartered Internal Auditors will enhance their reputation for risk management, internal control and good governance.
Chartered status helps raise the profile of internal auditing departments internally and externally to staff, management, customers, shareholders and others. This raised profile will help and encourage boards and management to maximise the assurance benefits of internal auditing, further enhancing each organisation’s reputation and public confidence in its stewardship.
The ability for individuals to become chartered helps make internal auditing a more attractive career choice, expanding the pool of talented internal audit professionals over the long term, giving employers access to more highly skilled and experienced internal audit professionals.

Internal audit performs a public service in the sense that all stakeholders need to know that organisations are being well run and that their assets are being protected over the long term. Chartered status is a public endorsement of the value of this service and the specialist expertise of internal auditors as professionals. It creates a more highly recognisable benchmark for excellence.
Chartered status helps to consolidate and promote the Institute’s position of influence as the leading voice of the profession. This enhances its contribution to the public Interest.

Internal Auditing will rank alongside other chartered professions such as accountancy, surveying and engineering, giving it a similar seal of public interest approval.
Internal audit already benefits from the breadth of business knowledge and experience it draws from practitioners who enter the profession from other business functions. Being chartered will help attract an ever widening pool of talented individuals, aspiring to ever higher standards of expertise and helping to address skills shortages, particularly at the more senior end of the profession. Chartered status will help to increase this flow of organisational knowledge and skills.