Continuing Professional Education Program RequirementsThis document contains the mandatory Continuing Professional Education requirements for Certified Investment and Derivatives Auditors (CIDAs). It also specifies the method of reporting by CIDAs who wish to keep their designation in good standing. The program is designed to ensure that the skill and knowledge required to become a CIDA is professionally maintained on an ongoing basis. CIDAs are responsible for maintaining their knowledge and skills. As well as, updating their knowledge and skills related to improvements and current developments in internal auditing standards, procedures, and techniques. The certification requires CIDAs to complete 15 hours of investment related training each year. Education hours must be investment/derivative oriented, however related subjects such as cash management, FAS133, securities regulations, energy derivatives, etc. apply also. CIDAs are exempt from fulfilling CPE requirements for one year from their exam date. Therefore, a new CIDA has two years from the exam date to complete the required 15 continuing education hours. After the allotted time has been given to complete the CPE requirements, ITCI will send a letter to all CIDAs asking for training topics and hours completed. Contact Hours Calculation – Contact hours are the actual hours spent in connection with an activity. One contact hours represents a minimum of fifty minutes and a maximum of sixty minutes of active involvement in an educational activity. Time spent in breaks or at lunch does not qualify as contact hours unless further education activity is provided (e.g., luncheon speaker). One contact hours is equivalent to one CPE credit hour. |
