Board Amends Education Requirements for Certification Under the Grandfathering Clause
The Board was asked to reconsider the education requirements for certification under the Grandfathering Clause for the CICA professional designation. Based on a recent survey of internal audit departments, it was revealed that many internal auditors and consultants do not have undergraduate or graduate degrees in Accounting or Information Technology (for IT auditors). However, many of these same individuals have many years of experience in the internal controls area, and are truly qualified as a result of other education or experience. As a result, the Nominations Committee and Accreditations Committee have amended the education requirements, effective immediately, to the following:
- Individuals having either a Bachelors or Masters degreee in Accounting or Information Technology degree will be awarded 40 points.
- Individuals possessing a Bachelors degree in any major other than above will be awarded 20 points. These individuals can substitute experience in internal controls for the education reduction.
- The restriction of a maximum of 30 points for experience will be removed. Therefore, anyone with a bachelor's degree and at least five years experience in a position where internal controls constitutes more than 50% of their duties will be allowed certification. The five years experience requirement can be reduced to four years in cases where the applicant has other professional certifications.
The education requirements for the CCS professional designation remain the same. However, the restriction of a maximum of 30 points for experience is removed.
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