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My CRMA Certification Overview

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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.

Readers can check out these pages:

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.

  • Lisa says:

    Hi,

    Well done Lynnel. I can see you have a passion for internal audit…

    Wish you all the best on your new certification journey.

    Thanks for sharing as usual.

  • Annette says:

    Hi Lynnel

    I am also considering a speciality certification, the choice is between CCSA or CRMA or maybe both, I am still undecided. Due to the move I no longer have any Gleim books, so I probably have to buy new resource material. Even though I want to get settled in with my new firm and city, I`d rather not wait too long and get lazy again. I am also considering to become accredited by the IIA to perform external Quality Reviews, hopefully I can join the accreditaion course in October this year.

    I like your drive, which in turns pushes me too (in a good way) 🙂

  • Ahmed Kamal Moustafa says:

    Wish you all the best Lynnel.
    Keep it up.

  • Francis says:

    Hi,

    Any one taking CFSA please?

    I am interested to know available review materials…

  • Nikki says:

    Good Luck Lynnel and thanks for keeping us posted! I am also looking to take the CRMA sometime next year 🙂

  • Hasan Ahmed says:

    Hi Lynnel

    First of all, congratulations on your CIA and thanks for the useful information.

    I also passed my CIA a couple of days ago and am now planning for CRMA.

    One question though: Any idea about the exam structure i.e. total time, number of questions

    I always worry about time management in these exams so anything you can share would be helpful.

    Thanks and regards

    and good luck

    • Stephanie says:

      Hi Hasan,
      Thanks for your sharing. Really happy for you!
      I’d love to hear more about my readers’ actual experience in CRMA as well. I’ve got lots of questions but still looking for someone to share 🙂
      In the meantime I will try to research more on this exam. Cheers, Stephanie

    • Lynnel says:

      Hi Hasan, thank you and congrats for passing the exam. I will be posting blogs about CRMA soon and planning to take it by quarter 2 next year. I will keep you all posted. 🙂

  • Bandel says:

    Dear Lynnel,

    Thank you for your advice on the CIA Part 3 Exams. I passed the CIA Part 3 exams on my first attempt a few days ago and i sincerely found your comments about the exams very insightful.

    I am equally passionate about internal audit and risk management as you are. I have registered for the CRMA Certification and i intend to take the exams by April 2018, at the lattest.

    I look forward to the information about you will be sharing about the CRMA exams.

  • Peter says:

    Hey Lynnel, como sta? How are you doing there in Philly? Interesting blog, I would like to get to know more about the CIA exam.

    I hope to hear from you soon.

    Regards,

    Peter

  • Mohamad says:

    Hi Lynnel,

    I hope you passed your CRMA Exam.

    I have a question, i passed the three parts of CIA and now pursuing the CRMA certification.
    However, i would like to get an idea of the time roughly required to study for the CRMA exam?

    Thank you in advance

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