Institute of Internal Auditors (IIA)

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Will Kenton
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Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School for Social Research and Doctor of Philosophy in English literature from NYU.
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Updated January 07, 2023
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Katie Miller
Katie Miller
Reviewed by Katie Miller
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Katie Miller is a consumer financial services expert. She worked for almost two decades as an executive, leading multi-billion dollar mortgage, credit card, and savings portfolios with operations worldwide and a unique focus on the consumer. Her mortgage expertise was honed post-2008 crisis as she implemented the significant changes resulting from Dodd-Frank required regulations.

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What Is the Institute of Internal Auditors (IIA)?

The Institute of Internal Auditors (IIA) is a certification, education, and research leader for professionals engaged in evaluating an organization's operations and controls. Established in 1941, the Institute of Internal Auditors awards the certified internal auditor (CIA) designation, a globally accepted certification for internal auditors.

The IIA has its global headquarters in Lake Mary, Florida, with more than 218,000 members worldwide through 112 international affiliates and 150 chapters in the United States, Canada, and the Caribbean.

Key Takeaways

  • Established in 1941, the Institute of Internal Auditors (IIA) is a certification, education, and research leader for professionals engaged in evaluating an organization's operations and controls.
  • The Institute of Internal Auditors awards the certified internal auditor (CIA) designation, a globally accepted certification for internal auditors. It also offers the Certification in Risk Management Assurance (CRMA) and the Internal Audit Practitioner (IAP) certificate.
  • Today, many people associate the genesis of modern internal auditing with the establishment of the Institute of Internal Auditors.

Understanding the Institute of Internal Auditors (IIA)

Besides internal auditing, Institute of Internal Auditors (IIA) members also work in areas where this function is a critical component of the corporate structure. These areas include risk management, governance, internal control, information technology audit, education, and security.

According to the IIA, its mission is to provide dynamic leadership for the global profession of internal auditing. To carry out this mission, the organization focuses on several elements, including:

  • Advocating and promoting the value that internal audit professionals add to their organizations
  • Providing comprehensive professional education and development opportunities, standards and other professional practice guidance, and certification programs
  • Researching, disseminating, and promoting to practitioners and stakeholders knowledge concerning internal auditing and its appropriate role in control, risk management, and governance
  • Educating practitioners and other relevant audiences on best practices in internal auditing
  • Bringing together internal auditors from all countries to share information and experiences

History of the IIA

As a historically significant discipline, internal auditing is often overlooked. The IIA honors this storied function by educating experts and the general public on how historians have traced the roots of internal auditing to centuries B.C., as merchants verified receipts for grain brought to market.

The expansion of corporate business and commercial enterprise drove the profession's growth in the 19th and 20th centuries. Demand grew for systems of control in companies conducting operations in various locations while employing thousands of people. Today, many people associate the genesis of modern internal auditing with the establishment of the Institute of Internal Auditors.

IIA Certifications

Globally, an IIA certification is recognized as an expert-level standard for competency and professionalism throughout the internal audit field. It is currently the only organization that offers certifications for internal auditing professionals globally.

The Institute of Internal Auditors offers the following:

  • Internal Audit Practitioner (IAP): Designed for new auditors and students
  • Certified Internal Auditor (CIA): The organization's premier certification
  • Risk Management Assurance (CRMA): Advanced certificate for internal auditors, designed for professionals that provide assurance in core business processes and risk management.

Is the CIA a Good Certification?

The Certified Internal Auditor (CIA) certification demonstrates your professionalism and experience as an internal auditor. This can be beneficial for both businesses and internal auditors as a company is assured of its auditor's abilities, and certified auditors may be paid more than those without a certification.

How Much Does It Cost to Join the IIA?

Students can join the IIA for free. Educators and public sector employee fees are $175, the standard membership fee is $270, and fees for executives are $995.

How Do I Become a Member of the Institute of Internal Auditors?

In the U.S., you'll need to apply for an account on the IIA website and wait for approval. From there, you navigate through the IIA's account-accessible site for information about joining the chapter in your area.

The Bottom Line

The Institute of Internal Auditors is an organization that educates, certifies, and promotes the internal auditing profession. It is international in scope, with chapters around the world.

The organization also develops and publishes standards for internal auditing professionals to follow. In addition, members of the institute must abide by the standards and code of ethics.

Article Sources
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  1. Institute of Internal Auditors. "The Institute of Internal Auditors Welcomes Four New Affiliates to its Global Federation."

  2. Institute of Internal Auditors. "About Us."

  3. Institute of Internal Auditors. "Certifications."

  4. Institute of Internal Auditors. "Become a Member."