CPEs: 40
Level: Intermediate
Tuition: £3,495.00
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NEW IIA Certified Financial Services Auditor (CFSA) CFSA 001

Location: UK EU EMEA WAT Time Zones

First Date: Nov 14-18 2022

Duration: 5 days including 1/2 day mock exam

Programme Director: Yiannos Ashiotis MBA CFSI CPA

All Dates & Locations
Venue Details

Experience the world class, highly-interactive expert-led social learning through Virtual Classroom via Cisco WebEx from Risk Reward.

All our 2022 Virtual Classroom events feature shared (or discrete) live chat between delegates and the expert, participate in topical surveys, polling questions, group exercises and case studies for a tried -and- true engaging and gratifying learning experience.

Need to bring this course in -house or face to face in your location? Simply contact us for significant cost savings and dates to meet your specific needs.

""Instructor's knowledge on the subject? Excellent. Instructor's presentation style? Excellent.""
HSBC, Taiwan
Agenda Highlights

Session 1:  Financial Services Auditing

Session 2:  Auditing Financial Services Products

Session 3:  Auditing Financial Service Processes

Session 4:  The Regulatory Environment

""We challenged you to modernise our internal audit department and upskill our team. A job well done""
Senior Internal Auditor, Commercial Bank, Egypt

Banks are challenged to meet the continuing changing demands of stakeholders in achieving optimal service delivery.

As internal audit continues to advance there is an increasing need to have a qualified audit team able to meet these challenges.

Delegates will be prepared to sit the CFSA qualification as issued by the IIA Institute of Internal Auditors, enabling the organization’s Board to confirm that the audit team is adequately qualified to meet these needs.

""You could tell that the instructor really knows what he is talking about. I loved the real world examples.I t was intense, but I learned a lot about banking.""
Audit Manager, USA Bank, New York
Who Should Attend

Unique for its wide range of financial services topical areas – banking, capital markets, insurance and asset management, products, process and regulation  – this exam preparatory learning experience is designed specifically for  internal audit management and team members towards the IIA CFSA assessment, yet is popular for all financial services internal auditors without the examination/assessment as well.

All delegated completing the course will receive an accredited Certificate in Financial Services Internal Audit. 

Additional Course Information

What Does It Cover?

Financial Services Auditing

  1. IIA International Professional Practices Framework
  2. Internal Control/Risk Management/Governance
  3. Internal Control Frameworks
  4. Risk Management Frameworks
  5. Governance Models
  6. Audit Process
  7. Audit Planning
  8. Audit Fieldwork
    1. Risk Assessment
    2. Analytical Review
    3. Data Gathering and Evaluation
    4. Testing
    5. Tools and Techniques (e.g., CAAT)
  9. Audit Communications
  10. Monitoring Outcomes
  11. Implications of Information Technology
  12. Auditing Financial Statement Elements
  13. Balance Sheet
  14. Statement of Cash Flows
  15. Income/Expense Statement
  16. Off Balance-sheet Items

Auditing Financial Services Products

  1. Lending/Loans
  2. Deposits
  3. Trusts
  4. Annuities
  5. Derivatives)
  6. Electronic Services
  7. Cash Management Services
  8. Stocks
  9. Bonds
  10. Commodities
  11. Mutual Funds
  12. Employee Benefits
  13. Capital Market Products
  14. Securities Lending
  15. Insurance Policies
  16. Insurance Products
  17. Foreign Exchange
  18. Asset Management
  19. Money Market Products (A)

Auditing Financial Service Processes

  1. Risk Management
  2. Asset/Liability Management
  3. Trading Market Risk
  4. Credit, Liquidity, Operational Risk
  5. Allowance for Loan and Lease Losses
  6. Reserves
  7. Underwriting
  8. Loans
  9. Securities
  10. Insurance
  11. Private Placement
  12. Initial Public Offerings
  13. Securitizations
  14. Treasury Operations (e.g., Cash Management)
  15. Back-office Operations
  16. Marketing Sales and Distribution (e.g., Insurance Agencies, Bank Branches, Brokers)
  17. Claims
  18. Investments
  19. Broker/Dealer Activities
  20. Rating Advisory Service
  21. Mergers and Acquisitions
  22. Loan Operations (e.g., Collateral Issues, Perfecting Liens)

The Regulatory Environment

  1. Overview of the Regulatory Environment
  2. Function of Central Bank
  3. Function of Insurance Regulators
  4. Function of Securities Regulators
  5. Laws and Regulations
  6. Equal Credit Opportunity/Antidiscrimination
  7. Home Mortgage Disclosure
  8. Reserve Requirements
  9. Insider Transactions
  10. Lending Disclosure
  11. Deposits Disclosure
  12. Real Estate Sales Disclosure
  13. Self-assessment of Internal Controls/Risk Management
  14. Investor/Depositor Protection
    1. Financial and Personal Information Privacy
    2. Anti-Money Laundering
  1. Stock Exchanges and Other Markets
  2. Money and Banking)
  3. Role of Money and Banking
  4. Bond and Stock Markets
  5. Effect of Interest Rate Movements
  6. Monetary Management Theories

Practice questions and exam techniques

Learning Objectives

Delegates will gain specialist technical and behavioural knowledge,  techniques and skills, experience ‘on-the-job-style’ training in group discussion and developing audit programs in the classroom for immediate application in the workplace in practise with a focus on

  • Financial services auditing
  • Auditing financial service products
  • Auditing financial service processes
  • The regulatory environment
  • Insurance products and processes
  • Securities products and processes

IIA CFSA Candidates should contact the IIA  to both register directly and purchase any relevant published study materials.  These costs are additional and separate from the training course price offered by Risk Reward.

In addition to our Customer Service Excellence support team services to help you get started and throughout the exam preparation process, a Certificate in Financial Services Internal Audit with 40 CPD UK credits will also be issued by Risk Reward to all delegates upon completion.


Social Learning & Methods

Highly interactive expert-led intensive presentation, Q&A, case studies and discussion supported by key principles and theory.

The virtual learning platform uses safe, industry preferred encrypted Cisco WebEx to optimise live face-to-face visual interaction, discrete chat, for polling and quizzes.

(Each delegate will receive an email calendar invitation with simple instructions on how to join the virtual course using their web browser and having downed the app.)




NEW IIA Certified Financial Services Auditor (CFSA)

Course Fee

Discounts of 15% available by adding RISK15 voucher at time of checkout

Course Fee (per person):
GBP £3,495.00 (+ UK VAT when applicable)

Number of delegates:

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