What does IIAM mean in INSTITUTES
The Institute of Internal Auditors Malaysia (IIAM) is a professional organization established in 1990 and that works to promote the recognition and enhance the effectiveness of professional internal auditors. It provides opportunities for networking, education, certification, research and advocacy activities to its members. In addition, IIAM plays an important role in providing professional guidance on internal auditing practice as well as educating and training those interested in entering the profession. As such, IIAM is recognized as “the voice” of the internal audit profession in Malaysia.
IIAM meaning in Institutes in Governmental
IIAM mostly used in an acronym Institutes in Category Governmental that means Institute of Internal Auditors MALAYSIA
Shorthand: IIAM,
Full Form: Institute of Internal Auditors MALAYSIA
For more information of "Institute of Internal Auditors MALAYSIA", see the section below.
Meaning
The acronym "IIAM" stands for Institute of Internal Auditors Malaysia. This institute serves to provide recognition, education, certification, research and advocacy opportunities for those engaged in or wishing to enter into the field of internal auditing. The Institute offers qualifications such as Certified Internal Auditor (CIA®) and Certified Anti-Money Laundering Professional (CAMP®). IIAM also provides advice on best practices and conducts workshops to share knowledge among industry professionals.
Governmental
In Malaysia, government departments must comply with regulations regarding financial reporting standards which dictate how their finances should be managed by their accounting departments. To ensure their compliance with these standards many government departments employ professional internal auditors who are members of IIAM. The governing body oversees the operations of these departments by ensuring compliance with government regulations and providing advice on financial policies for improved accuracy and reliability in financial reporting.
Full Form
The full form of IIAM is Institute Of Internal Auditors Malaysia; it is a non-profit organization dedicated to advancing the practice and standards of professional internal auditing by promoting its recognition amongst professionals practising within this area. This organisation also strives to develop students' understanding of the profession through continuing education courses provided by accredited educators who have been certified by IIAM itself.
Essential Questions and Answers on Institute of Internal Auditors MALAYSIA in "GOVERNMENTAL»INSTITUTES"
What is the scope of IIAM?
The Institute of Internal Auditors Malaysia (IIAM) was established in 1978 and is affiliated to The Institute of Internal Auditors (IIA) Inc., USA. IIAM provides guidance, education, advocacy and networking opportunities for internal auditors in Malaysia.
Who are eligible to join IIAM?
Individuals who are working in internal audit related fields such as internal audit, financial audit, risk management and information systems audit are eligible to join IIAM. Candidates have to be at least twenty-one (21) years old and pass the assessment process determined by IIAM.
What kind of membership does IIAM offer?
IIAM offers three (3) categories of memberships which include Member, Associate Member and Student Member. Members must have a minimum ten (10) years experience in Internal Audit field while Associate Members must hold a diploma/degree qualification with working experience in the fields stated earlier. Lastly, Student Membership requires individuals aged twenty-one (21) or above with at least one semester of study or equivalent in an accredited university or college offering Internal Audit / Accounting courses.
How much do I need to pay for the membership fee?
For Member & Associate Member, a one-time registration fee of RM200 will be charged along with annual fees based on their respective category. As for Student Membership, there is a one-time registration fee of RM50 and no annual fees will be imposed.
Are there any benefits provided when I join as a member with IIAM?
Besides the educational and networking opportunities available through various activities such as National Conference & Annual General Meeting held by IIAM; members are also entitled to discounts when attending certification programs conducted by approved bodies like Professional Accountants Associations/ Institutes in Malaysia and American Institute of Certified Public Accountants’s Global Virtual Education Program.
Final Words:
The Institute Of Internal Auditors Malaysia (IIAM) provides public sector organisations with insight into their financial performance through proficient governance audits that verify adherence to laws, regulations and standards prescribed by governmental authorities. Its qualifications such as Certified Internal Auditor (CIA®) certification demonstrates an individual's proficiency in core areas of corporate governance activities including compliance management programs; fraud risk assessments; performance improvement initiatives; technology security strategies amongst others which meet benchmarks set forth by international standard setting bodies such as COSO, AICPA, ISACA etc.. With over 3000 members worldwide representing various sectors from industries around the world - IIAM continues to be an eminent voice for the professional practice of internal audit across multiple disciplines encompassing public sector organisations globally.
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