Certified Financial Services Auditor (CFSA)
Audit with Confidence: Master Risk, Control, and Compliance in Financial Services
Course Schedule
| Venue (InHouse) | Fees |
|---|---|
| At Your Organization Premises | Ask For The Quotation |
Course Introduction
The Certified Financial Services Auditor (CFSA) training program is tailored for internal auditors and professionals working in banking, insurance, securities, and other financial services sectors. It focuses on the unique risks, regulations, and internal control frameworks relevant to financial institutions.
This 5-day intensive training prepares participants to carry out effective audits in line with industry standards and regulatory expectations. It also supports candidates preparing for the official CFSA® certification offered by The IIA, equipping them with core competencies across auditing principles, industry knowledge, and governance practices.
Course Objectives
By the end of this course, participants will be able to:
- Understand the core components of financial services auditing
- Apply internal audit methodologies in banking, insurance, and securities industries
- Evaluate regulatory compliance, governance, and risk management practices
- Prepare for the CFSA® certification exam domains and requirements
- Demonstrate professional competence in performing sector-specific audits
Key Benefits of Attending
- Gain in-depth knowledge of industry-specific audit standards
- Learn how to manage regulatory expectations and audit readiness
- Strengthen internal audit functions in highly regulated financial institutions
- Receive practical tools and templates for auditing key financial processes
- Prepare effectively for the CFSA® exam and career advancement
Intended Audience
This program is designed for:
- Internal auditors in financial institutions
- Risk and compliance professionals in banking, insurance, and securities
- CFSA® certification candidates
- Audit managers and heads of audit departments
- Financial controllers and internal control professionals
Individual Benefits
Key competencies that will be developed include:
- Mastery of CFSA domains: banking, insurance, and securities auditing
- Enhanced understanding of regulatory frameworks (e.g., Basel III, Solvency II)
- Skills to identify and assess risks across financial services operations
- Ability to communicate audit findings clearly to regulators and stakeholders
- Career advancement through CFSA® certification preparation
Organization Benefits
Upon completing the training course, participants will demonstrate:
- Strengthened governance and audit alignment with financial regulations
- Improved internal control assessments for high-risk financial areas
- Enhanced capacity to meet compliance and audit expectations
- Risk-aware culture and improved assurance delivery
- Greater credibility and professionalism in audit engagements
Instructional Methdology
The course follows a blended learning approach combining theory with practice:
- Strategy Briefings – Core audit principles, industry regulations, and CFSA domains
- Case Studies – Regulatory breaches, fraud audits, and governance breakdowns
- Workshops – Internal control reviews, compliance testing, and risk assessment
- Peer Exchange – Sector-specific audit challenges and regulatory insights
- Tools – Templates for audit planning, regulatory compliance checks, and risk scoring
Course Outline
DETAILED 5-DAY COURSE OUTLINE (CUSTOMIZABLE)
Training Hours: 7:30 AM – 3:30 PM
Daily Format: 3–4 Learning Modules | Coffee Breaks: 09:30 & 11:15 | Lunch Buffet: 01:00 – 02:00
Day 1: Foundations of Financial Services Auditing
- Module 1: Overview of CFSA Certification and Exam Domains (07:30 – 09:30)
- CFSA framework and exam structure
- Banking, insurance, and securities focus areas
- Module 2: Auditing the Financial Services Environment (09:45 – 11:15)
- Principles of risk, control, and governance in FSIs
- Module 3: Regulatory Frameworks and Compliance Essentials (11:30 – 01:00)
- Basel III, FATF, KYC/AML, Solvency II, SEC guidelines
- Module 4: Workshop – Internal Control Environment Mapping (02:00 – 03:30)
Day 2: Auditing in the Banking Sector
- Module 1: Auditing Retail and Commercial Banking (07:30 – 09:30)
- Loan auditing, credit risk, and asset classifications
- Module 2: Internal Controls in Treasury and Investment Services (09:45 – 11:15)
- Liquidity, interest rate, and FX risk
- Module 3: Workshop – Risk-Based Audit Program for Banks (11:30 – 01:00)
- Module 4: Case Study – Bank Failure Due to Internal Control Weaknesses (02:00 – 03:30)
Day 3: Auditing the Insurance Sector
- Module 1: Auditing Underwriting, Claims, and Reinsurance (07:30 – 09:30)
- Risk controls and fraud prevention in insurance
- Module 2: Regulatory and Solvency Audits for Insurers (09:45 – 11:15)
- Solvency II, actuarial assumptions, and reserves
- Module 3: Workshop – Auditing Premium Revenue Cycles (11:30 – 01:00)
- Module 4: Peer Exchange – Audit Challenges in Insurance Companies (02:00 – 03:30)
Day 4: Auditing the Securities Sector
- Module 1: Securities Operations and Trading Audits (07:30 – 09:30)
- Trade lifecycle, market conduct, and compliance
- Module 2: Portfolio Management and Investment Risk Audits (09:45 – 11:15)
- Insider trading, risk profiling, and performance audit
- Module 3: Workshop – Auditing Wealth Management Operations (11:30 – 01:00)
- Module 4: Case Study – Regulatory Enforcement in Securities (02:00 – 03:30)
Day 5: CFSA Exam Preparation and Integrated Risk Assurance
- Module 1: CFSA Exam Tips and Domain Review (07:30 – 09:30)
- Exam strategy, sample questions, and mock test
- Module 2: Integrated Risk-Based Audit Planning (09:45 – 11:15)
- Creating value through combined assurance
- Module 3: Final Group Project – Financial Services Audit Simulation (11:30 – 01:00)
- Module 4: Feedback, Q&A, and Certification Ceremony (02:00 – 03:30)
Certification
Participants will receive a Certificate of Completion in Financial Services Auditing (CFSA), validating their readiness to audit banking, insurance, and securities sectors. This course also fully prepares attendees to sit for The IIA’s globally recognized CFSA® certification exam.