Duration Of The Program

The Internal Auditing Professional (IAP) Program may be completed in a period of three years (36 months).

Period of Validity of Registration

It is mandatory for the candidates to finish all four stages of the Internal Auditing Professional (IAP) Program within seven years from the date of enrollment. The candidate must complete the Foundation Stage of the IAP Program within three years from the date of registration. If the candidates are unable to complete the program within the given time frame but he is willing to continue, he will have to register de novo.

Program Structure

The Internal Auditing Professional (IAP) Program comprises 21 papers and is categorized into four stages, namely Foundation Stage (5 papers), Certificate Stage (5 papers), Professional Stage Group I (5 papers), and Professional Stage Group II (6 papers).

Candidates must complete the Foundation Stage of 5 papers before moving to the Certificate Stage of 5 papers. Upon completion of the Certificate Stage, they will be admitted to Professional Stage Group I, consisting of 5 papers. It is mandatory for candidates enrolled in the Internal Auditing Professional (IAP) Program to study and complete all the four stages/21 papers sequentially.

Foundation Stage

Paper Code Subject Name Marks
Paper FS 1 Internal Auditor Essentials 100
Paper FS 2 COSO Enterprise Risk Management 100
Paper FS 3 Accounting & Finance 100
Paper FS 4 Business Communication & Behavioral Studies 100
Paper FS 5 Internal Audit Execution 100

Certificate Stage

Paper Code Subject Name Marks
Paper CS 6 Principles of Fraud Examination 100
Paper CS 7 Business Analysis Techniques 100
Paper CS 8 Tiers of Audit Competency (The Essence of Effective Internal Auditing) 100
Paper CS 9 Information Governance - Concepts, Strategies and Best Practices 100
Paper CS 10 Corporate Laws (Company Law & Taxation Law) 100

Professional Stage Group I

Paper Code Subject Name Marks
Paper PS 11 Investigation Process & Techniques 100
Paper PS 12 Operational Auditing 100
Paper PS 13 Internal Audit - Efficiency through Automation 100
Paper PS 14 Banking & Insurance Laws 100
Paper PS 15 Auditing Information Systems 100

Professional Stage Group II

Paper Code Subject Name Marks
Paper PS 16 Anti Money Laundering Measures 100
Paper PS 17 ACorporate & Financial Reporting 100
Paper PS 18 Corporate Ethics and Corporate Governance 100
Paper PS 19 Ethics and the Internal Auditor's Political Dillemma 100
Paper PS 20 Internal Audit Practice 100
Paper PS 21 Advanced Auditing or Advanced Taxation or Cyber Laws 100

The duration of the examination for each subject in the Internal Auditing Professional (IAP) Program is three hours. Each subject includes one paper, which requires a time frame of three hours for completion. The examination is conducted biannually, specifically in the last week of January and July of each year.

During the examination, candidates are expected to demonstrate a comprehensive understanding of the subject matter covered in the IAP Program. They must apply the principles of internal auditing to practical scenarios and provide sound and justifiable recommendations to enhance the effectiveness of risk management, control, and governance processes within an organization. The examination is an essential component of the IAP Program as it allows candidates to showcase their knowledge, skills, and competencies acquired through the program. Successful completion of the examination enables the candidate to progress to the next stage of the program and ultimately obtain the Internal Auditing Professional (IAP) qualification.