Date(s) - 03/04/2023 - 06/04/2023
8:30 am - 3:00 pm
About this course:
Job analysis and stakeholder surveys have indicated a key element to unlocking internal audit’s full potential can be found in a professional’s ability to provide advice and assurance on risk management to audit committees and executive management. In response, The IIA developed the CRMA designation. The Certification will demonstrate your ability to:
- Provide assurance on core business processes in risk management and governance.
- Educate management and the audit committee on risk and risk management concepts.
- Focus on strategic organizational risks.
- Add value for your organization.
The review course is based on IIA (Institute of Internal Auditors) source materials and All basic requirements to prepare for and pass the CRMA exam are addressed in this review.
The Certification in Risk Management Assurance (CRMA) exam includes two sections:
Part 1 of the CIA exam and a separate CRMA exam, which consists of 100 multiple-choice questions covering four domains as follows:
Domain I: Organizational governance related to risk management (25-30%)
- Assess risk management processes in the context of alignment with strategic imperatives
- Assess the processes related to the elements of the internal environment in which organizations seek to manage risks and achieve objectives
- Assess the processes related to the elements of the external environment in which organizations seek to manage risks and achieve objectives
Domain II: Principles of risk management processes (25-30%)
- Benchmark risk management processes using authoritative guidance
- Evaluate risk management processes related to:
Domain III: Assurance role of the Internal Auditor (20-25%)
- Review the management of key risks
- Evaluate the reporting of key risks
- Provide assurance that risks are adequately evaluated
- Provide assurance on risk management processes
Domain IV: Consulting role of the Internal Auditor (20-25%)
- Facilitate identification and evaluation of risks
- Coach management in responding to risks
- Coordinate risk management activities
- Consolidate reporting on risks
- Maintain and develop the risk management framework
- Advocate for the establishment of risk management
- Develop risk management strategy for board approval