Passing the Certified Financial Services Auditor (CFSA) exam is essential for anyone who wants to become a professional financial auditor. The exam is designed to test your knowledge and skills in financial auditing, risk management, governance, and other critical areas of financial services. If you are preparing for this exam, it's important to understand the exam objectives, topics covered, exam details, and related books that can help you pass the CFSA exam.
Exam Objectives:
- Financial Services Auditing
- Governance, Risk Management, and Compliance
- The Role of the Internal Auditor
- The Audit Process
- Communications
The exam consists of 125 multiple-choice questions that you must answer in 2.5 hours. You need to score at least 75% to pass the exam. The exam is computer-based and is administered at Prometric testing centers worldwide. The cost of the exam varies depending on your location, but it typically ranges from $400 to $500.
Who Should Take the Exam?
The CFSA exam is intended for professionals in the financial services industry who want to become certified financial auditors. This includes internal auditors, external auditors, risk managers, compliance officers, and other professionals who are responsible for auditing financial services organizations.
Prerequisites and Qualifications:
Before taking the CFSA exam, you must meet certain prerequisites and qualifications. These include:
- Having a minimum of two years of experience in internal auditing or a related field (such as external auditing, risk management, or compliance)
- Having a bachelor's degree or equivalent
- Being a member of the Institute of Internal Auditors (IIA)
Related Books:
Here are some books that can help you prepare for the CFSA exam:
- The Internal Auditing Handbook by K. H. Spencer Pickett
- Financial Services Auditing by K. H. Spencer Pickett
- Auditing and Assurance Services: An Integrated Approach by Alvin A. Arens, Randal J. Elder, and Mark S. Beasley
- Governance, Risk Management, and Compliance: It Can't Happen to Us--Avoiding Corporate Disaster While Driving Success by Richard M. Steinberg
- The Essential Handbook of Internal Auditing by K. H. Spencer Pickett
It's important to note that these books are not a substitute for studying the official CFSA exam materials. However, they can provide you with additional knowledge and insights that can help you prepare for the exam.
In conclusion, passing the CFSA exam requires preparation, dedication, and hard work. Make sure you understand the exam objectives, topics covered, exam details, and related books that can help you pass the exam. Good luck!