• This course is tailored for internal auditors, risk management professionals, compliance officers, and those aspiring to specialize in risk management assurance. It is also ideal for individuals preparing for the CRMA certification exam offered by the Institute of Internal Auditors (IIA).

• Basic understanding of risk management and internal audit principles.
• Familiarity with organizational governance and control frameworks.

Course Outline:

Module 1: Introduction to Risk Management Assurance

• Overview of CRMA Certification
• Role of Risk Management Assurance in Modern Organizations
• Key Concepts: Governance, Risk Management, and Internal Controls
• IIA’s Three Lines Model

Hands-On:

• Analyzing an organization’s risk profile using a sample framework
• Mapping governance practices to the Three Lines Model

Module 2: Risk Management Frameworks and Governance

• Key Risk Management Frameworks (e.g., COSO ERM, ISO 31000)
• Understanding Governance Structures
• Risk Appetite and Tolerance
• Risk Identification and Assessment Techniques

Hands-On:

• Case Study: Developing a risk appetite statement for a hypothetical organization
• Risk assessment exercise using a heat map

Module 3: Risk-Based Internal Auditing

• Fundamentals of Risk-Based Auditing
• Aligning Audit Plans with Organizational Risks
• Evaluating Risk Responses and Mitigating Strategies
• Reporting and Communicating Risk-Based Audit Findings

Hands-On:

• Designing a risk-based audit plan for a case study organization
• Role-play: Presenting audit findings to stakeholders

Module 4: Control Frameworks and Their Assessment

• Overview of Control Frameworks (e.g., COSO, COBIT)
• Evaluating Control Design and Effectiveness
• Identifying and Addressing Control Gaps
• Integrating IT Controls in Risk Assurance

Hands-On:

• Control testing exercise using a sample scenario
• Identifying gaps in a control framework using a checklist

Module 5: Consulting Role of Internal Audit

• Transitioning from Assurance to Advisory Roles
• Providing Value-Added Risk Insights
• Enhancing Organizational Risk Maturity
• Navigating Ethical Considerations in Consulting

Hands-On:

• Drafting a consulting report with actionable recommendations
• Group activity: Facilitating a risk workshop for a hypothetical scenario

Module 6: Structured Activities and Case Studies

• Comprehensive Case Study: End-to-End Risk Assurance Process
• Mock CRMA Exam Questions and Exam Strategy
• Developing a Personal Study Plan for the CRMA Certification

Hands-On:

• Conducting a mock risk management assessment for a simulated organization
• Collaborative group activity to resolve a complex governance issue

Training Material Provided:

• Comprehensive course slides and notes
• CRMA exam preparation guide
• Sample case studies and templates
• Access to risk management tools and resources

Any Additional Information

Any additional information about  Labs / Software Installs required for the course