Posts tagged: CIA Part 2

CIA Studying – Study Sessions

March 12, 2013, by No comments yet

Written By Guest Blogger Chris M.

Hi everyone. I hope you are all in good spirits. I also hope that your studies are going well. Never despair! Just keep on studying and you will come out victorious.

I attempted to answer the true/false questions for Study Units 1 and 2. I scored an average of 60%, which was far from pleasing. This is a clear indication than more work is needed. However, answering these questions made me realize which areas I need to concentrate on. The true/false questions cover all the concepts in a study unit. These questions have definitely helped me in identifying my shortcomings.

I also attempted to answer multiple-choice questions for the same two study units. I can tell you that my scores on the first attempt were discouraging. As a result, I answered more questions for both study units. I could definitely see a progression in my scores.

The study sessions questions are also very important in one’s studies. They play a very crucial role, and give a detailed explanation of all possible choices for a question. This is one thing that I like about Gleim’s CIA study material; you get to understand why you got a certain question wrong. This means you will be studying the concepts and at the same time practicing for the examination. Another thing I like about the study questions is that you are given questions that pertain to real-life situations. This means that you will have to apply what you have studied. By learning these concepts, you will in fact become a well-skilled auditor.

Until next time, ciao!!!

CIA Exam Studying – Now More Proficient In My Auditing Career

January 4, 2013, by No comments yet

 

Written By Guest Blogger Chrispen M.

Hello, fellow CIA candidates. I hope I find you in high spirits. Your aspirations will be turned into reality. The key is to work hard. Be dedicated to your studies and you will come out as a victor.

The CIA course will make you a well accomplished auditor. By completing the entire course, your discipline will be changed for the better. As an internal auditor, your ethical climate will improve because of the CIA course.

I myself have greatly improved by studying the Gleim study material. I can now speak with confidence. Even my boss now sends me to represent the audit department at various symposiums. Just some few years back, I couldn’t imagine myself speaking in front of six hundred delegates. Now, I can easily do this with the aplomb of a veteran. At one of the symposiums, I even surprised myself by expertly answering questions posed by the delegates. I could see the delegates nodding their heads in agreement. Some organizations are even contemplating hiring me to train their staff in audit matters. I would not hesitate to recommend Gleim study materials to anyone who aspires to pass the CIA exam.

Until next time, ciao!

 

The Prometric Center & What To Expect From CMA Exam Testing

December 19, 2012, by 1 comment

Written By Guest Blogger Jason S.

Greetings –
I have less than 24 hours to go until I take Part 1 of the CMA exam. At this point, I can honestly say that I feel totally prepared for what is to come tomorrow afternoon. I know that when the exam begins, I will be nervous, but hopefully that will go away by question number 10 or around that point. If I can get off to a good start, that will calm my nerves and relax me for the rest of the exam. In the past, there always comes a point where you lose the nerves and you focus on the task at hand.

The last couple of days, I have been doing some review of topics that I feel I need to work on more. I have also made sure to review all the rules and regulations when it comes to taking the CMA exam and to get the proper items ready for when I go into the Prometric testing facility. One thing I highly recommend is to find the testing facility before you take the exam. I would recommend going a couple days in advance to make sure you know where the facility is and how long it will take you to get there (adding some time for any unexpected traffic delays). I did not know where the testing facility was in Roanoke, so I printed off the sheet that Prometric emailed me when I initially signed up for the exam. I went to the correct address on the emailed sheet and ended up finding out that the testing facility had actually moved in the last couple of weeks. The door on the old building did show a new address for the new building and it was only a mile down the road. However, if I did not do this before test day this would have provided me some unneeded stress. I am thinking that 99 times out of 100, the address given to you will be correct, but you don’t want to take that chance and end up being late. Prometric did email me a reminder about the exam yesterday, and it did have the new address on this particular email, but it looks exactly like the initial sheet.

Another key item to think about when taking these exams is what you might wear on exam day. I recommend wearing the most comfortable clothes you have (and something that might be good luck). For me, this will be track pants and a Michigan State University t-shirt. The testing centers can vary when it comes to the room temperature, but I try to wear something that will keep me as cool as possible. I would rather be too cold when taking the exam than too warm.

Tomorrow it will be me vs. the test (100 multiple-choice questions and 2 essays). Hopefully, at the end of the 4 hours (or before), I will feel confident that my study process (combined with the Gleim process) helped me conquer Part 1 of the CMA exam.

Kind regards,

Jason S.

 

CIA Part 3: The Beginning

October 5, 2012, by No comments yet

 

Written By Guest Blogger Chris.

Hi, fellow students. I hope you are doing well with your studies. Mine are going very well. I hope to complete the CIA course in the near future, but this will call for hard work, discipline, and determination.

I have just finished going through the course outline for CIA Part 3. The course outline covers quite a wide range of topics that includes financial accounting, managerial accounting, business processes, economics, and information technology. The issue is not only about auditing but knowing other aspects that make businesses function.

One thing I have realized about the accounting part of the CIA course is that the topics are covered as per the International Accounting Standards (IAS). This equips the modern day’s internal auditor with the relevant knowledge when examining the accounting records of a company. An internal auditor should be able to assess whether decisions are made in the best interests of the organization. An analysis of the financial information should be made by the internal auditor in order to assist the decision makers.

I have realized that the course outline demands hard work and discipline. I have to stay focused. I am going to employ the same studying methods I have employed in the previous CIA parts. For me they have proved to be effective and success is guaranteed.

 

 

Passed the CIA Part 2 Exam On The First Try!

September 14, 2012, by 1 comment

 

Written By Guest Blogger Chris.

Hi, fellow students. I have very good news to tell you. I did it the first time with Gleim. I passed the CIA Part 2 exam. I am on cloud nine. To the Gleim team, I say thank you a million times. You were really of great help to me. Your reading material is just fantastic.

A special thanks goes to my Gleim personal counselor who provided me with a good study plan. I followed his tips and they really worked for me.

I would not hesitate to recommend Gleim to any prospective CIA candidates. The Gleim reading material is in line with what is in the CIA examination. Besides, you are equipped with tremendous knowledge. You do your work with confidence and exuberance. You really become an authority on your own.

Now I am going to study for Part 3, and there is no prize for guessing the study material that I am going to use. It’s Gleim all the way.

Let me share with you some tips on how I did it the first time. The first thing is I was really committed to my study program. This means that I had to be disciplined. Second, I read the Gleim book twice so that I grasped every concept. Third, I practiced the questions in the Test Preparation Software kit. This is where it matters most. Practice these questions and you will come out victorious.

Gleim team, once again I say thank you.

 

Is It Worth Earning More Than Just The CPA Designation?

August 24, 2012, by No comments yet

Written By Guest Blogger Mr. Dom Savini (Please see his bio)

Although the answer to this question depends on a host of matters that encompass personal and professional circumstances and aspirations, generally speaking the answer is most certainly, YES.

In a recent survey of 300 global CEO’s 76% agreed that current reporting systems are too focused on financial statements and 75% agreed that more emphasis is needed on communicating non-financial business value.[1]  Additionally, as governments face the current global economic climate they are reviewing ways to better report performance, cost accounting, and budget information to their citizenry.[2]  Lastly, standard-setters have initiated research projects that deal with improving commentary, disclosure and analysis about an organization’s financial health and operations.[3]

What does this mean to you?   Although the CPA designation has been and continues to be considered the “gold-standard”, its focus is primarily on public accounting and auditing.[4]  As such, although it is an outstanding and robust foundation and professional achievement, its current scope does not really focus on areas such as strategic cost management, governance, risk management, organizational theories and employee behavior. In fact, just read any business newspaper and you will see that these are the areas that are the root cause to many of the financial problems whether on Wall Street, Main Street, or City Hall.  Now, in order to gain this proficiency you can decide to either enter into a multi-year masters degree program paying thousands of dollars or consider taking The Gleim CMA or CIA review courses and becoming certified within a matter of months as opposed to years.

Other reasons to consider earning either the CIA or CMA designation include: securing greater advantages such as increased earnings & promotion potential, demonstrating increased level of proficiency & professionalism, meeting globalized demand for services, leveraging your existing skills across diverse disciplines, and most importantly, remaining a relevant professional in today’s highly competitive global environment.  The ball is in your court.

Footnotes:

[1] Rebooting Business: Valuing the Human Dimension,  January 2012.  AICPA and CIMA. http://www.cgma.org/Resources/Reports/Pages/rebooting-business.aspx

[2] FASAB Active Projects, Performance Reporting and Reporting of Budgetary Information in Financial Reports. http://www.fasab.gov/projects/active-projects/performance-reporting/

[3] FASB Not-for-Profit Advisory Committee Recommends Improvements to Financial Reporting, News Release 10/03/11 and IPSASB Active Project, Reporting Service Performance Information. http://www.ifac.org/public-sector/projects/reporting-service-performance-information

[4] The AICPA’s content specification outlines (CSOs) for the four sections of the Uniform CPA Exam include: Auditing & Attestation, Financial Accounting & Reporting, Regulation, and Business Environment & Concepts. http://www.aicpa.org/becomeacpa/cpaexam/examinationcontent/contentandskills/pages/default.aspx

Wrapping Up CIA Exam Studying for Part Two

August 22, 2012, by No comments yet

 

Written By Guest Blogger Chris.

Hello, folks. I hope you are well and everything is going according to plan. Well, as for my studies, I can say that I am at a stage that I call “the mop-up stage.” I am reviewing all the work covered by practicing questions in the Gleim Test Prep Software. I am now concentrating on areas that I found challenging so that I will be prepared for the actual examination. I call this stage “the mop-up stage” because when one is cleaning a room, mopping up ensures that there is no single trace of dirt in the room. This also applies to my studies. I want to ensure that every problem area in the study units is well comprehended before the examination. I will concentrate on those problem areas until I have reached a passing score. Victory is certain.

 

I am now answering at least 160 questions a day. I want to cover as many questions as possible before the exam so that I will be ready for every trick that the examiner might try to bring. In the first seven study units, I averaged 85%. In the last three study units, I averaged 70%. That was disappointing, but not disheartening. I will keep on persevering until my score has improved. When you face challenges, do not lose heart. Keep on doing it and you will come out victorious. Never give up.

 

I only have ten days left before I take the CIA examination. I hope to comprehend all the questions. The most important thing is to understand what the question is asking. Multiple-choice questions are tricky sometimes, especially when most of the answers seem to be similar. Concentrate on what the examiner has asked. You have to deduce the correct answer and that means the utmost concentration is needed.

 

Until next time, ciao.

 

 

Coming To The End of CIA Exam Studying

August 14, 2012, by No comments yet

 

Written By Guest Blogger Chris

Wow! I have just completed reading the last study unit (Study Unit 10). I am now going for the last round of reading before I go for the examination. That is, I am going to read all of the study units for the second time. I am ecstatic and excited that I have gone through all the study material for CIA Part 2. I am now prepared for the examination, which I hope to write about at the end of this month.

As I read the study units for the second time, I hope that every loose end will be tied. I am going to concentrate on problem areas that I found to be challenging in each and every topic. Study Units 8 and 9 proved to be challenging, but this time I hope to grasp all the concepts. I hope to achieve an average score of 96% during my practice sessions before the examination. This means I have to work very hard.

I have completed Study Unit 10 as I alluded to in the first paragraph, and I learned quite a lot. I am now well equipped with the knowledge on how to conduct successful interviews. In order for one to have a successful interview, careful planning is needed. The interviewer needs to have good communication skills, like being an effective listener. I also learned that taking notes during an interview is essential.

I also leaned that questionnaires are a very essential way of gathering facts before the audit engagement. So, skills are needed in preparing questionnaires that will achieve the intended objectives. Internal auditors can also gather facts through observing the activities of a client.

I will share with you some of the information that I read on this study unit in the next blog. I averaged 90% on this topic during practice sessions, and I hope to do better than this before the actual test.

Until next time, ciao.

 

Complimentary CIA Exam Practice Test!

August 12, 2012, by No comments yet

 

It is our top priority that you pass the CIA exam on the first attempt. As a result, we have released the Gleim CIA Practice Exam. The Practice Exam is 2 hours and 25 minutes long and contains 90 multiple-choice questions, just like the actual CIA exam. Therefore, it tests you not only on the content you have studied, but also on the question-answering and time-management techniques you will need to learn to pass your exam(s). Dr. Gleim recommends that you take the Gleim Practice Exam AFTER you have completed all study units of your CIA Review and shortly BEFORE you take the actual exam to gain experience in the computer-based exam environment.

 

Since Gleim is so invested in your success, the Gleim CIA Practice Exam is complimentary with the purchase of the corresponding part(s) of the CIA Review System. However, through August 16 we have a limited-time offer for candidates who have purchased or do purchase the Gleim Online Course. Contact us at 800.874.5346 prior to August 16 to see how you can get complimentary access to the CIA Practice Exam with the purchase of the corresponding part(s) of the Gleim CIA Review System or CIA Gleim Online.

 

After August 16, only CIA Review System purchasers will be eligible for complimentary access to the Practice Exam while all other candidates will be required to pay for access.

 

CIA Exam: Assurance Engagements and Averaging a 95%!

June 25, 2012, by No comments yet

 

Written By Guest Blogger Chris.

Hello fellow students. I hope your studies are going well. It is never easy to become a Certified Internal Auditor unless you are 100% committed and have the right study material.

I am using the Test Preparation Software supplied by Gleim. It is really proving to be handy. The software provides explanations to all of the questions, which frequently quote relevant IIA standards and ethics. I have averaged 91% on all the review questions that I have done, and I am pleased with my marks.

Wow! I also just finished reading Study Unit 6, “Conducting Assurance Engagements,” and I did extremely well on the questions provided for this topic. My average mark was 95%. All I can say is that I am well equipped when it comes to conducting assurance engagements. I am now a better Internal Auditor.

I hope you are grasping everything that you are reading.

Until next time, ciao.