FAQs
Click the links below to view answers to questions about chartered status. If you don’t find what you are looking for, you can submit a question to the chartered status team at the Institute.
Q What Is chartered status and what had to be done to get it?
Q How does chartered status help the profession?
Q How does chartered status benefit an individual member?
Q What else is the Institute doing to develop the profession, support member development and improve service to members?
Q When did the Chartered Institute come into existance?
Q How does Chartered status affect the relationship with the Global IIA?
Q Will my membership be the same in the new Chartered Institute?
Q What Is chartered status and what had to be done to get it?
A Royal charter is conferred by Privy Council on behalf of the Sovereign. It was originally the only way to incorporate a company but now it is reserved for professional bodies and charities. There are 400 chartered bodies currently in existence.
To receive our Royal Charter the Institute had to demonstrate support amongst its stakeholders and satisfy Privy Council's criteria:
- The institute should comprise most of the eligible field of members of a unique profession
- Voting members of the institute should be qualified at first degree level in a relevant discipline
- The institute should be financially sound and able to demonstrate a track of achievement over a number of years
- There must be a clear case that conferring a Royal Charter would serve the public interest
- The institute is of substantial size, with over 5000 members
Q How does chartered status help the profession?
A The internal audit profession, led by the institute, has passed significant milestones in recent years in terms of growing membership and contributing significantly to the development of the profession globally and within the EC as well as within the UK and Ireland. Within the UK and Ireland the profession and its International Standards are enjoying ever increasing levels of recognition and acknowledgement. But there is still much to do and the Institute’s strategic objectives are designed to achieve greater growth for the profession.
The institute’s long term strategy is to develop the profession to ensure that it has the knowledge, skills and expertise required to be essential to an organisation’s success and to promote the role and value of the profession to ensure that it is recognised as being essential to success.
Achieving these aims requires the institute, on behalf of its members and the profession, to be a key contributor to the development of public policy, extend the reach of its membership further and support members to develop their specialist skills and knowledge.
Chartered status will provide an important accelerator to achieving these objectives.
Q How does chartered status benefit an individual member?
A Being a member of a chartered professional body, brings an enhanced level of status and recognition for all members.
The Charter will allow the IIA to give members the right to call themselves “Chartered” and use the deisgniation " CMIIA", subject to its own set of criteria, endorsed by the membership. The parameters for chartering individual members are :
- A high level of professional competence in line with the International Framework for the Professional Practice of Internal Auditing including attainment of the IIA Advanced Diploma in Internal Auditing and Management
- Commitement to the Institute’s Code of Ethics and disciplinary procedures,which all members are subject to.
- Current and relevant CPD
- Active within internal auditing at an appropriate level
- Demonstrate achievements and understanding of current issues in governance and internal auditing
There is further information about chartered status for individual members in Becoming a chartered internal auditor.
A Whilst chartered status can help the Institute deliver its strategic objectives for the development of the profession it is not the only area of activity which the Institute is pursuing. The IIA Diploma syllabus has recently been overhauled to ensure that it remains the foremost internal audit qualification and our online CPD tool has been launched. A new computer audit qualification has been launched and first stage of our website development programme has been completed, enhancing our ability to deliver web based services and greater interactivity to members. Our popular certificate programme is being reviewed.
Q When did the Chartered Institute come into existance?
A The Chartered Institute of Internal Auditors was created on 1 October 2010. From this date, members who satisfy the criteria for the award of Chartered status are able to call themselves Chartered Internal Auditors and use the designation "CMIIA". Go to Becoming a Chartered Internal Auditor.
Q How does Chartered status affect the relationship with the global IIA?
A The Chartered Institute is bound by an affiliate agreement with the Global IIA. This agreement has at its core an obligation to promote the profession and the International Standards within the
Q Will my membership be the same in the new Chartered Institute?
A All members will transfer to the new Chartered Institute at their equivalent membership class. Members who hold the IIA Advanced Diploma in Internal Auditing and Management will be able to call themselves Chartered Internal Auditors and use the designation CMIIA. All members of the Chartered Institute will continue to be bound by the Institute’s Code of Ethics and International Standards, as detailed in the International Professional Practices Framework (IPPF).