Top tips from a top student
By Jan Olivier, Head of Education and Development
Rebecca Elfes was awarded the William S Smith Gold Award 2024 for being the top CIA student in the world.
Rebecca agreed to share her knowledge and experience with all of us when she delivered her presentation after being invited by the Chartered IIA Student Community. Rebecca is not only a breath of fresh air, but she also knows her stuff and you will definitely be able to learn from her experience. This is advise you will not find in any textbook!
Rebecca’s story is one we can all relate to. She smashed through all three CIA exams in just a year (yep, you read that right—Part 1 in June 2023, Part 2 in December 2023, and Part 3 in May 2024). But it wasn’t all smooth sailing. She talked about the dreaded accounting modules, coping with exam nerves, and the struggle to juggle revision with a full-time job. And let’s not forget the pressure of needing the qualification for career progression.
Prepping like a pro
Rebecca’s advice was spot on:
• Set a realistic revision period—three months worked for her, but you do you!
• Book your exam date early so you’ve got a deadline to aim for.
• Become an expert—get comfy with the content, especially the IPPF/Code of Ethics for Parts 1 & 2.
• For Part 3: Supplementary Guides are your best mates. Read as many as you can!
• Practice questions are gold, but don’t let them freak you out if they’re weirdly worded.
• Don’t cancel your social life—seriously, make time for fun and snacks (baking counts as revision, right?).
• Make a timetable—Rebecca hand-draws hers, and ticking things off feels SO good.
Rebecca's best hacks
• Q cards are Rebecca’s holy grail.
• Context-dependent memory—revise in different places, stick posters up, record yourself and listen back (podcast style!).
• Use study apps like Flora to keep you on track.
• YouTube for tricky topics—because sometimes you just need someone to explain it with a cat meme.
The night before and exam day
• Visit the test centre in advance so you’re not stressing.
• Brain food is a must, even if you’re nervous.
• Treat yourself afterwards—whatever happens, you deserve it!
• Don’t cram too late—give your brain a break.
• On exam day: Arrive early, grab a coffee, and keep calm. If you get stuck, guess, flag, and move on. Trust your gut!
Rebecca's Final Thoughts
Everyone works differently, so find what works for you and don’t be afraid to ask for help. And remember, you’re not alone—this community is here to support you every step of the way.
These ideas worked for Rebecca, but as she also reminds everyone that you need to find an approach that works for you and that you feel comfortable with.
As you can expect I get asked this question all the time, so to support Rebecca I will also share my top tips to consider when studying for the CIA:
1. Know the syllabus
This may sound obvious, but remember that you will be assessed against the syllabus and not the learning materials. Download a copy of the syllabus and keep it with you when you are studying. You should pay close attention to the words at the beginning of each of the learning outcomes as these will tell you how these will be assessed. Do you know what it mean to "explain", "describe", "apply", or "assess"?
2. Global guidance
Global Guidance, referred to as Supplemental Guidance within the Global Internal Audit Standards, comprises Global Practice Guides and Global Technology Audit Guides (GTAGs). These are essential to your success. There are a lot of these guidance, but you should read as many as you can. Not only do they put the application of the standards in a context that you can relate to, they are also a main source of exam questions.
3. Exam is not real life
Ultimately you are being assessed against the Standards. The Standards take a very purist view of what an auditor needs to do and how. In the real world, things are much messier. It might help that you create a fake exam-world in your head where you are the CAE, instead of trying to relate the Standards and syllabus to your experience in the office.
4. Plan
Schedule your exam, and then work backwards to plan your studies. You can expect to spend between 100 and 200 hours of study on each paper - this includes anything from the moment you log on or turn the first page, all the way to the moment you submit exam. How many hours will depend on factors including your ability to retain facts, your reading speed, your experience, and your other qualifications. You will see that the sections in the syllabus have percentages allocated so that will be very handy as it will give you an indication how much of your total study time you need to devote to each section.
5. Be clever with quizzes
The syllabus is far too big to be able to just work through hundreds of quiz questions and to pass the exam. Familiarise yourself with the materials, read the materials, then go back to the standards and read those and the guidance. When you feel comfortable about that part of the syllabus then you do the quiz to assess your level of understanding. Remember that you need 80% in the exam to pass, so if you score anything less than 80% you have to go back to those sections and cover the materials again. I suggest you need to aim for 90% at the very least.
Remember that this is a difficult exam, and the multiple choice questions you will find in the exam are likely to be the most complex MCQs you have ever come across. If you don't work hard, you will not make it. About 50% of students who sit the exam will pass. Make sure that is you!
Good luck with your exam.