Course Description:
The Certification in Risk Management Assurance (CRMA) is designed for internal auditors and risk management professionals. It focuses on providing advice and assurance on risk management to audit committees and executive management. The CRMA designation signifies an individual’s capability to evaluate governance and enterprise risk management processes.
Who Should Certify:
Internal auditors Risk management professionals Individuals responsible for governance processes and quality assurance Professionals involved in control self-assessment (CSA)
Course Objectives
The IIA’s Certification in Risk Management Assurance® (CRMA®) program is the only certification specifically for internal auditors focused on risk management assurance. It has been updated to reflect the necessary organizational knowledge and advanced skills required to effectively support audit committees and executive management. Earning the CRMA certification demonstrates your ability to: Provide Assurance: Deliver assurance on core business processes related to risk management and governance. Educate Stakeholders: Effectively educate management and audit committees on risk and risk management concepts. Quality Assurance: Offer quality assurance and conduct control self-assessments. Add Value: Serve as a trusted advisor, adding value to your organization. Enhance Skills: Equip participants with the skills needed to provide assurance on risk management and governance processes. Improve Communication: Enhance understanding of risk management concepts for effective communication with management and audit committees. Focus on Strategic Risks: Concentrate on identifying and addressing strategic organizational risks to benefit the organization.
Course Content:
• Risk Management Principles:
Overview of fundamental risk management and governance principles.
• Enterprise Risk Management:
Evaluation techniques for enterprise risk management frameworks.
• Advisory Skills:
Strategies for advising audit committees and executive management on risk-related issues.
• Core Business Processes:
Examination of core business processes relevant to risk assurance.
• Case Studies:
Practical applications and case studies illustrating risk management assurance in action.
• Certification Exam Preparation:
Content and structure of the CRMA exam, including potential question types.
• Continuing Professional Education:
Requirements for ongoing education and certification renewal to maintain CRMA status.
Be a Key Advisor to the Audit Committee and Executive Management for Risk Management
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 CRMA: Your Key to Career Success
he CRMA is designed for internal auditors and risk management professionals with responsibility for and experience in providing risk assurance, governance processes, quality assurance, or control self-assessment (CSA). It demonstrates an individual’s ability to evaluate the dynamic components that comprise an organization’s governance and enterprise risk management program and provide advice and assurance around these issues. The CRMA is one more mark of professional distinction for internal audit practitioners. Earning the CRMA will assist you in demonstrating 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.
Steps to Certifications
From applying to testing, to passing and becoming certified. Find out what’s involved in the certification process.
Step 1: Apply
• Create your profile in The IIA’s Certification Candidate Management System (CCMS) to apply for, register, and manage your certification.
• Upload required documents (education and government-issued photo ID) directly in CCMS. You must have your documents approved before you can register for the exam.
Step 2: Test
• Access your profile in CCMS.
• Click “Manage Program.”
• Register for the exam or exam part.
• Schedule your exam.
Step 3: Become Certified
• Complete your experience verification.
• Receive your certification.
• Access your certificate via the CCMS. A printed copy may be obtained with a fee.
CRMA Renewal Requirements
Certification Renewal Requirements for Certification in Risk Management Assurance® (CRMA®) Each year, practicing CRMA holders must attest that they completed their required annual 20 hours of continuing professional education (CPE). It is the responsibility of the certified individual to assure that the CPE hours claimed conform to the Certification Renewal Policy established by The IIA’s Professional Certification Board (PCB). Certification Renewal, which must be completed via CCMS no later than 31 December each year, serves as a signed statement that all applicable CPE requirements have been met.
Course Fees:
The course fees do not include the Institute of Internal Auditors membership or the final exam fee.
CRMA Eligibility Requirements
• High School Diploma, Associates Degree, GCE, A-Level or their equivalent
• Experience can be in any of the following: Internal Audit, Quality Assurance, Risk Management, Audit/Assessment/Disciplines, Compliance, External Audit, Internal Control. Two out of the five required years of experience must be within the past three years.
Eligibility Period The CRMA program window is two years, meaning that candidates have two years from the date they are accepted into the program to complete the program requirements (i.e., pass the exam and provide evidence that they have obtained five years of internal audit and/or risk management experience).Candidates in the CRMA program agree to accept the conditions of the program, including eligibility requirements, exam confidentiality, Code of Ethics, and Continuing Professional Education (CPE), along with other conditions enacted by The IIA’s Professional Certification Board (PCB).
Confidentiality The CRMA exam is a nondisclosed examination. Candidates in the program agree to keep the contents of the CRMA exam confidential and therefore may not discuss the specific exam content with anyone except The IIA’s Global Certifications Department. Unauthorized disclosure of exam material will be considered a breach of the Code of Ethics and could result in disqualification of the candidate or other appropriate censure.
Continuing Professional Education (CPE)Upon certification, CRMAs are required to maintain their knowledge and skills and stay abreast of improvements and current developments by satisfying CPE requirements according to the Certification Renewal Policy established by The IIA’s PCB.
IIA MembershipIn most cases, you do not have to be a member of The IIA to take the CRMA exam or become a CRMA, but we encourage you to consider its advantages. There are some countries, however, that do require candidates to be IIA members to take the CRMA exam. Candidates should contact their local Affiliate to verify this requirement.