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My CRMA Certification Overview

CRMA certificationLynnel is our blogger from the Philippines. She passed all the three CIA exam parts recently, and has been exploring the specialty exams.

Hi everyone, I am back to discuss one of the specialty exams I mentioned on my previous post, CRMA, which I am planning to take by the end of this year or January 2018. Just in case I’ll be 100 percent sure to pursue CCSA I may take both, that is, CCSA and CRMA exams on the same day. Looks like it would be another challenging one but it will definitely be worth it.

Why the CRMA Certification?

CRMA stands for Certification in Risk Management Assurance. It is a global certification offered by Institute of Internal auditors. According to the IIA website, the CRMA designation is for those who aspire to be advisors to audit committee and executive management on critical areas of risk assurance, governance processes, quality assurance, or control self-assessment. If this sounds good, the CRMA designation is for you.

One of the requirements of CRMA is to pass the CIA part 1 so I guess professionals who pursue CRMA is either a Certified Internal Auditor or a CIA candidate. This is the specialty certification I am most thrilled about because all topics involved in the certification are covered in the CIA exam.

The CRMA exam syllabus has four domains, as stated in the IIA website:

  • Domain I: Organizational governance related to risk management
  • Domain II: Principles of risk management processes
  • Domain III: Assurance role of the Internal Auditor
  • Domain IV: Consulting role of the Internal Auditor

The CIA exam main focus topics are governance, risk management and internal controls. It is an advantage for those candidates who already passed the three part CIA exam since topics on CRMA are all previously included. You may find the topics mentioned above on part 1 and 3 of CIA exam, which talks about governance and risk management. It may look that risk is a small portion of topic in CIA but I believe, as you dig a little bit deeper risk in general would be an extensive topic.

In terms of study tools, a colleague who has the certification said that she only used the Gleim CIA book and test bank, as well as the supplemental guide on ISO 31000. My other colleague said he purchased the IIA CRMA in conjunction with Gleim CIA book and supplemental guide. For me, I may purchase the IIA CRMA and study along with Gleim and the supplemental guides like my other colleague did.

I will write more about the specialty exams to pursue, and how I plan to study for it. In the meantime, I will enjoy my free time , focus on my family and work (soon hopefully) and will get back once I get started.

Thank you for reading!

All of our dreams can come true if we have the courage to pursue them.” ~ Walt Disney

Note from Stephanie

Thanks a lot for your sharing Lynnel! It’s a very helpful intro to this relatively new IIA certification. I got more and more questions on CRMA meaning this certification is getting people’s interest.

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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.

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