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Lynnel’s CIA Part 3 Progress: Week 2 and 3

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CIA part 3 progress week 2 and 3Lynnel is our CIA exam blogger from the Philippines. She writes every Friday.

Hi everyone! I am catching up with the reporting of my progress. This is my experience in the second and third week of studying (about two weeks ago).

As I continue to move forward for my review on Part 3, I can say that dedication, discipline and commitment are the keys to the success of being a CIA. And discipline took a big part because:

Discipline is the bridge between goals and accomplishment” – Jim Rohn.

I know it is a challenge to stick with a schedule, but I am proud to say that I managed to be on schedule, because I really want to pursue the certification. In addition, I am one step away from the certification. To those who feel like quitting, think about why you started. I am really inspired by the story of Annette, a fellow blogger, on her journey to certification. If you have time you may check out her blog.

As I have said before I am using Gleim 2016 as my study material. And the topics that I need to study for week 2 and week 3 are:

  • Unit 6- Structural Analysis within an Industry
  • Unit 7- Industry Evolution and Environments
  • Unit 8- Strategic Decisions
  • Unit 9- Organizational Behavior
  • Unit 10- Leadership and Conflict Management

Management topics really are not my thing, especially when I was in college. I got easily bored with the topics and I just realized how important these topics were only until now. And as I study slowly, I am happy that I am getting used to these kinds of topics. Also, I found unit six to eight really challenging maybe because there are terms that are new to me.

I had a course before which are Strategic Management and Total Quality Management which cover the same thing. The topics which I am familiar with are steps on strategic management process, porter’s five competitive forces, balance scorecard and forecasting.

If I’m not mistaken, I remember on part 2, there were few topics about management like TQM, benchmarking, privacy management and conflict management. This can also be  found in Part 3.

I feel like I do not grasp the concepts really well about these topics. But, I do not have to worry because  I still have sufficient time and I am still on familiarization part of my study process.

Note from Stephanie

I guess the whole point of Part 3 is to pull internal auditors out of their comfort zones, and almost force us to learn more about accounting and business beyond IA.

These topics are nevertheless very related to IA and what we face on a daily basis. It may not be the skills and tools that we use directly every day, but it’s something you should have a good background if we want to communicate well with business units and other accountants in the company. Think about it — if we don’t know the basics of management accounting, strategic management, business (in the form of economics and global trend) etc, how can we get the respect from our clients or peers in other departments?

So this isn’t really just for passing Part 3. It is incredibly useful for the long-term career in Internal Audit. The hard work is worth it!

About the Author Lynnel

Lynnel is a recent graduate, with a BSBA Major in Internal Auditing in the Philippines. Lynnel passed Part 1 and 2 on the same day, and Part 3 on her first attempt.

  • smarter says:

    I just took exam in March 2017. Please focus on Governance, Risk Management, Corporate Social Responsibility (ex. triple reporting line, 7 audit by elements), Porter competitive forces, IT general controls and application controls.

    • Lynnel says:

      Hi smarter, thanks for the advice. I will take note of that.

      • Lisa says:

        Hi Lynnel,

        I am currently studying for Part 2.

        Would you recommend studying the areas of Part 3 that overlaps with Part 2 to prepare for the exam?

        If yes, could you kindly identify the areas of Part 3 that are included in Part 2?

        I realize you identified TQM, benchmarking, privacy management and conflict management as components of Part 2 and Part 3. Are there other overlapping areas and should I study the identified areas also?

        Additionally, are there any IIA Practice guides to supplement the Gleim books that you used for Part 2?

        Thanks in advance for your assistance.

        All the best in Part 3….know you will do well

        • Lynnel says:

          Hi Lisa, since my weak areas are Risk/Internal Control and Governance. I decided to read some parts of governance and risk management in Part 3. I recommend reading it if you have trouble in this area and find those areas tricky on Part 1 and 2 exams. Also, Practice Advisories is a must to read for Part 2. But, I recommend reading three lines of defense and PG ISO 31000, if you have more time.

          Anyway, I combine studying both Parts 1 and 2 and took them same day. Because, I feel that gleim parts 1 and 2 are related to each other.

          Goodluck on your part 2! 😊

    • Axe says:

      Hi Smarter, thanks bro. Please advise how does one get hold of the material you are referring to?

  • John says:

    Hi Lynnel- I am a student who is studying for the cia exam and trying to get the examinations done before i start working. Unfortunately I failed with a score of 581 on part 1 and decided to study for part 2 three weeks ago. I am currently using gleim to study but am having a hard time grasping and retaining what I learned. Do yoi have any tips for people such as myself? Thanks so much!

    • Lynnel says:

      Hi John, don’t be sad. You just need to prepare well next time around. I’ve been there also in your situation, if I were you I will combine studying both parts and took the exam both next time. That’s what I did, and I know you can also do it! You may want to check out my preparation for both parts, study techniques and my comparison for Part 1 and 2 exam on my previous posts. Good luck! https://ipasstheciaexam.com/author/lynnel/

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