Certification in Risk Management Assurance (IIA)
IIA’s CRMA specialises audit on risk management (ERM, COSO ERM 2017, Three Lines Model). Single 10-week exam path.
A visual tool crossing likelihood and impact to prioritize risks.
The risk matrix (heat map) graphically represents risks by likelihood (Y-axis) and impact (X-axis). It enables rapid communication of an organization's risk profile to management and the board. Red/orange/green colors indicate urgency and treatment priority levels. 5×5 matrices are most common. A well-designed matrix distinguishes inherent risks (before controls) from residual risks (after controls) to demonstrate control effectiveness.
These certifications cover the concept of "Risk Matrix" in depth.
IIA’s CRMA specialises audit on risk management (ERM, COSO ERM 2017, Three Lines Model). Single 10-week exam path.
The IIA CIA certification covers this concept in Part 1 (framework, IPPF) and Part 2 (audit practice). 60+ lessons and 1,258 original questions.