Compliance and Ethics and Risk, Oh My! Why Auditors Rely on CPE to Stay Ahead

Continuous education is essential for maintaining credibility and staying competitive in today’s workforce, and the audit profession is no exception. Just like healthcare providers and lawyers, who must complete mandated training to retain their licenses, auditors are held to similar standards. Governing bodies such as the IIA and ISACA require ongoing education to ensure auditors remain up to date with evolving practices, regulations, and technologies. This not only helps professionals maintain their certifications but also keeps them sharp in a rapidly changing industry.

In this blog, we’ll explain why Continuing Professional Education, or CPE, is critical for auditors and dive into the types of CPE available and what other professional ongoing training is needed in audit.

Why CPE is Necessary for Auditors:

• Evolving Regulations: Auditors operate in a highly regulated environment, where laws and standards are constantly changing. Without regular education, auditors would inevitably become compliance risks themselves.

• Risk Management: Auditors play a critical role in identifying and mitigating risks within organizations. Ongoing education helps them stay ahead of emerging risks and industry trends before they become a problem.

• Industry Trust: Auditors are often seen as the guardians of financial integrity and compliance. Continuous education bolsters their credibility, and the trust placed in them by stakeholders.

• Certification Maintenance: Many auditors hold certifications from professional organizations, which require ongoing education to ensure they meet high professional standards. These standards lend auditors professional credibility.

Auditors pursue certifications such as the Certified Internal Auditor (CIA) or Certified Information Systems Auditor (CISA) to demonstrate legitimacy and expertise. These certifications are vital for transparency, but they are not required legally. Rather, they establish standards proving that the auditor is knowledgeable about current practices and enhance an auditor's reputation and career prospects in a competitive field.

The Role of NASBA in Audit Training and CPE Approval

The National Association of State Boards of Accountancy (NASBA) plays a crucial role in setting standards for the continuing education that auditors rely on to maintain their certifications. NASBA works in partnership with the American Institute of Certified Public Accountants (AICPA) and state boards of accountancy to establish uniformity in the quality and approval of CPE courses.

NASBA is responsible for approving CPE providers, ensuring that the courses meet specific educational standards that enhance the professional competence of auditors. This approval is essential for auditors to meet the CPE requirements imposed by various governing bodies like the IIA or ISACA. By taking NASBA-approved courses, auditors can be confident they are gaining relevant, high-quality knowledge that will not only fulfill their certification requirements but also sharpen their skills to keep pace with the ever-changing audit landscape.

At ACI Learning, we are proud to offer NASBA-accredited CPE courses that auditors can trust to stay current on best practices, regulatory updates, and industry trends.

Breakdown of CPE Requirements

Most governing bodies have specific CPE requirements that auditors must meet. Auditors typically need to complete 40 hours of CPE annually to maintain certifications from organizations like the IIA.

Ethics training is also a significant component, with most organizations requiring at least 2 hours to ensure auditors understand the ethical implications of their work. A portion of CPE hours must also be dedicated to technical skills related to auditing, like updates on auditing standards or methods.

Professional development courses that foster leadership, communication, and management skills are also encouraged, as well as courses covering current laws and regulations affecting the auditing profession. Auditors working in specialized sectors will often engage in education related to those industries, such as healthcare or finance, while continuous education on new developments in technology and risks ensures they are prepared for future challenges.

By actively engaging in CPE, auditors fulfill their certification requirements and equip themselves with the knowledge and skills necessary to thrive despite their profession's complexities. In a world where compliance, ethics, and risk are everyday themes, ongoing education is the key to maintaining their homefield advantage.

Elevate Your Audit Training with ACI Learning

As an auditor, you must stay up to date on all your company's latest regulatory and compliance requirements. ACI’s library of more than 900 hours of engaging audit video training, webinars, podcasts and forums help your auditors stay current.

Our modular courses provide flexibility, allowing you to choose the subjects most relevant to your professional development. From ethics and regulatory compliance to technical skills and industry-specific training, our courses are tailored to keep you informed and ahead of the curve.

Ready to deepen your knowledge and skillset for your internal audit career but not sure where to start? Our tailored learning paths for internal auditors are designed to help you build a diverse, cutting-edge skill set. ACI Learning's NASBA-accredited CPE courses are crafted to empower internal auditors with essential knowledge.