About
The Certificate in Financial Services Auditor is a specialized program designed to equip professionals with critical knowledge and practical applications in financial services internal auditing. With the financial sector evolving rapidly due to technological advancements, regulatory expectations, and emerging risks, this certification ensures auditors stay ahead in providing independent assurance and advisory services. Delivered online, this instructor-led program covers essential topics, including risk management, compliance, fraud detection, and cybersecurity, empowering participants to enhance and protect organizational value.
Learning Objective
Upon completion of this program, participants will be able to:
• Gain a comprehensive understanding of internal auditing principles in financial services.
• Apply the International Professional Practices Framework (IPPF) and Financial Services Risk Framework to organizational strategies.
• Analyze key risks affecting financial services, including liquidity, credit, capital adequacy, market risks, and cybersecurity.
• Conduct effective financial services audits in compliance with industry regulations and standards.
• Develop expertise in assessing fraud risks, culture and conduct, and third-party risk management.
Exam Information
• Format: Multiple-choice questions
• Total Questions: 100
• Duration: 3 hours
Eligibility
• No prerequisites are required
Curriculum
- Foundations of Internal Auditing in Financial Services
• Understanding the financial services regulatory environment.
• Key risk types in the Financial Services Risk Framework.
• The role of internal audits and risk governance in financial institutions. - Auditing Liquidity Risk
• Elements of Basel III and liquidity risk considerations.
• Internal audit’s role in liquidity risk management.
• Risk appetite, tolerance, and LRM methodology. - Auditing Capital Adequacy & Stress Testing
• Capital classifications and their impact on financial stability.
• Stress testing methodologies and internal audit’s role in capital planning. - Auditing Model Risk Management (MRM)
• Components and scope of MRM.
• Risk assessment and validation of financial models.
• Policies, procedures, and governance of MRM. - Auditing Credit Risk
• Regulatory requirements and key elements of credit risk governance.
• Measurement and assessment of default probability. - Auditing Insurance Companies
• Industry-specific risks and business operations.
• Audit planning and subject matter expertise considerations. - Assessing Market and Interest Rate Risk
• Risk governance, measurement techniques, and regulatory requirements.
• Interest rate, equity, and foreign exchange risks. - Auditing Culture and Conduct Risk
• The impact of organizational culture and conduct.
• Risk assessment methodologies and reporting practices. - Assessing Cybersecurity Risk
• Cyber threat landscape and internal audit approaches.
• The role of internal audit, CAEs, and the board in cybersecurity oversight. - Assessing Fraud Risks
• Fraud risk assessment steps and controls.
• Compliance with internal audit fraud-related standards. - Auditing Third-Party Risk
• Key components of third-party risk management frameworks.
• Due diligence, governance structures, and risk monitoring.
Target audiences
- This certificate is ideal for:
- Internal audit professionals, including managers, senior auditors, and staff auditors.
- Risk management professionals seeking expertise in financial services auditing.
- Consulting associates looking to specialize in internal auditing for financial institutions.