CIA P2 Plan A4
CIA P2 Plan A4
and hard work. From our experience at HOCK with thousands of candidates, we know that planning makes this process much easier. Because the exam is available on an ongoing basis and there is no date by which you need to be prepared, studying can seem endless without a proper plan. We know it is easy to put things off until tomorrow. We believe that you will find studying easier and less time consuming if you have a solid plan that targets passing the Part 2 Exam within two months after you begin studying. Set out below is an 8 week plan, studying 8 to 10 hours per week. This is simply a guide based on the expected amount of study time for a person with some accounting background who is familiar with the basic exam concepts. As you go through your schedule, you may find yourself getting ahead or somewhat behind due to changes in your work or personal commitments. This does not matter. Each person should study at his or her own pace and feel comfortable with the study process and time required to prepare for the exams. While studying, there are sure to be topics that are not clear to you and perhaps some that you find incredibly difficult. When encountering these topics, you can always contact HOCK and we will help you as much as possible. Also, keep in mind that you do not need to have 100% knowledge of 100% of the exam content in order to pass. At certain points you will need to decide whether the extra time spent learning something is worth the extra knowledge gained. When in doubt about what to do, contact us and we will guide you. I wish you great success in your studies and look forward to helping you pass the exams. Sincerely,
June 2011
Carefully read through the textbook to learn and understand the concepts. We include multiple-choice questions in the book to help you better understand the subject matter and help you get used to the style of the questions on the exam. After reading each section, you should answer all of the study questions in ExamSuccess. At first, it will take you longer than it should for each question, but for the exam you should take no more than a minute and a half on each question. Continued practice will improve your test taking skills and you will get faster as you become more familiar with the process and how questions are asked. We include detailed explanations so you can understand why an answer is right or wrong. Develop a 75+ proficiency level within each Section. Your goal is to improve your knowledge, not just memorization. You should have enough understanding of the subject matter to be able to explain it to someone else.
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Note: Flash cards are included in the HOCK study material. We consider the flash cards to be a useful study tool. You can study them when you have only a few minutes of time to spare, while riding into work, or simply before going to bed.
CIA Part 2 Study Plan Unit 1: 1 Week Section A Conducting and Monitoring Engagements
Sections A comprises from 30 to 50% of the Part 2 Exam. The main topics of interesting in this section include: 1) engagement information, 2) working papers, 3) communicating results, and 4) monitoring process. ExamSuccess After completing the reading, create and complete a Study Session in ExamSuccess consisting of all of the questions in Section A Conducting and Monitoring Engagements. Re-study all questions missed by creating a new Study Session from all incorrectly answered questions.
CIA Part 2 Study Plan Unit 2: 2 Weeks Section B Conduct Specific Engagements and Fraud Knowledge Elements
Section A covered the process of conducting an engagement. Now, we will study the elements of the specific engagements. There are two types of services that an internal auditor conducts: assurance and consulting. Assurance services are when the auditor examines evidence for the purpose of giving an independent assessment of risk management, control, and governance processes. Assurance engagements can be either financial, operational, or compliance. Consulting services, on the other hand, are advisory and related client service activities that are intended to add value and improve the organizations governance, risk management, and control processes. In addition, the internal auditor may be involved in special engagements, which include due diligence and fraud. This Unit ends before the Information Technology portion of Section B. Information Technology is the next Unit. ExamSuccess After completing the reading, create and complete a Study Session in ExamSuccess consisting of all of the questions in Section B Conduct Specific Engagements and Fraud Knowledge Elements except for the questions in the Information Technology and Systems Control subtopics. Re-study all questions missed by creating a new Study Session from all incorrectly answered questions.
CIA Part 2 Study Plan Unit 3: 1 Week Section B Information Technology (IT)
The use of computers in a companys operations and accounting systems has become very common and very useful. Computers have led to increased production, but have also led to increased exposure to inaccuracies and fraud. Thus, IT that is used by a company is of particular interest to auditors. It is important for you to have a good understanding of the elements of the IT function and its basic control concepts. This would include understanding the basics of system and application controls, systems design, what computer networks are, the use and development of databases, contingency planning, and an understanding of electronic data interchange (EDI) and enterprise resource planning (ERP). ExamSuccess After completing the reading, create and complete a Study Session in ExamSuccess consisting of all of the questions in the Information Technology and Systems Control subtopics of Section B Conduct Specific Engagements and Fraud Knowledge Elements. Re-study all questions missed by creating a new Study Session from all incorrectly answered questions.
Mock Exam: You should be prepared to take the Part 2 Mock Exam and then pass the real exam shortly after. Email us at [email protected] and ask for the mock exam to be emailed to you. It is a paper and pencil exam containing 100 questions to be completed in 2.75 hours.