Section 3 – Eligibility Requirements

The CFSA is a respected certification for auditors in the financial services industry, and certain eligibility requirements must be met in order to take the exam. The education and character reference requirements must be met before a candidate will be allowed to take the CFSA exam. The professional experience requirement may be met before or after taking the CFSA exam, but must be completed and submitted before a candidate can become certified and use the CFSA designation.

 EDUCATION
CFSA candidates must have a bachelor’s (four-year) degree or equivalent. A minimum of two years of post-secondary education with an accredited organization plus three years of general business experience may be substituted for a bachelor's degree in the CFSA program. A copy of the candidate’s degree or transcripts must be submitted with the application form.

CHARACTER REFERENCE
CFSA candidates must exhibit high moral and professional character and must submit a character reference form with their exam application form. [Link to Character Reference]

CODE OF ETHICS
CFSAs and CFSA candidates are expected to display exemplary professional behavior and judgment and must agree to abide by the Code of Ethics established by The IIA. [Link to Code of Ethics]

PROFESSIONAL EXPERIENCE
CFSA candidates are required to complete a minimum of two years of auditing experience in a financial services environment prior to receiving the CFSA certification. Verification of this work experience may be submitted with the application or at a later time. [Link to work experience verification form]

 SPECIAL CONSIDERATION
Based on previously met requirements, individuals who hold the CIA, CGAP, or CCSA designations are assumed to have met the education and character requirements of the CFSA program. These individuals will only be required to submit proof of professional experience in the financial services field to meet the eligibility requirements to sit for the CFSA exam.

CONTINUING PROFESSIONAL EDUCATION (CPE)
Upon certification, CFSAs will be required to maintain their knowledge and skills and stay abreast of improvements and current developments in financial services. CFSAs must acquire 40 hours of Continuing Professional Education (CPE) every two years and report these hours in compliance with CPE reporting requirements. In acknowledgement of the study time required to successfully complete the CFSA exam, the CPE requirement is waived for the year the exam is passed and for the subsequent year. Note: If you are a CIA, the CPE reporting that you complete for the CIA program satisfies the CPE reporting requirement for the CFSA certification. IIA members can report their CPE hours at no cost. Nonmembers incur a US $50 fee for CPE reporting.