Continuing Professional Education (CPE) Requirements for Certified Financial Services Auditors® (CFSA®s)
Each year, CFSA certificate holders are required to self-certify as to the completion of the required continuing education hours. The number of CPE hours to be reported is based on certification statuses of practicing, non-practicing, retired, inactive (grace period), or inactive. It is the CFSA’s responsibility to assure that the CPE hours claimed conform to the guidelines established by The IIA’s Professional Certification Board (PCB). CPE reporting forms are submitted by CFSAs on an annual basis (no later than December 31 each year) and serve as signed statements that all applicable CPE requirements have been met.
For complete information regarding the CPE requirements for CFSA certificate holders, please review Administrative Directive No. 4.
Get more information on CPE reporting steps for current and inactive CFSAs.
CPE Requirement Regarding IIA International Standards
- In order to encourage understanding of and compliance with The IIA's International Standards for the Professional Practice of Internal Auditing (Standards), The IIA's Professional Certification Board (PCB) has instated a requirement that CFSAs stay abreast of the Standards as part of their CPE.
- CFSAs must review or receive training on the Standards at some point during their CPE reporting period.
- If you are completing your CPE reporting form and have not already met this requirement, please take a moment to review the Standards before submitting your form.
New CFSAs are awarded 40 CPE hours. Half of the awarded CPE hours (20) are for the year in which the exam is passed, and the other half are for the subsequent year.
Also a CIA® ?
For the 2015 reporting year, if you are a Certified Internal Auditor® (CIA®), the CPE reporting that you complete for the CIA program satisfies the CPE reporting requirements for the CFSA. CPE reporting for the CFSA requires that 25% of the hours earned must be in the specialty area of expertise. Effective with the 2016 CPE reporting year, 100% of hours earned must be related to financial services.
CPE Providers, find out how to become an IIA Recognized CPE Provider here.