Enterprise Risk Management is More Than Just Compliance
The Qualified Risk Auditor (QRA®) certification is a 4-day risk management program tailor-made for auditors or those in assurance (internal/ external audit, etc.) positions. Through practical workshops and case studies, gain a thorough understanding of global enterprise risk management standards as well as the strategic aspects of business in order to enhance your existing risk management and enterprise risk management skillset as an auditor.
Through this enterprise risk management for auditors program, you will learn how a successful and practical world class ERM framework will help your organisation achieve its objectives at all levels, and gain the skills to effectively audit the ERM function. Assurance professionals will then be ideally placed to employ this practical knowledge to better design and select their Assurances methodology, programs and approaches in support of effective ERM initiatives.
Merely ensuring that your organisation is compliant to the relevant obligations and regulations is not enough for its sustainability. As a Qualified Risk Auditor (QRA®) equipped with a variety of ERM tools, you will be able to identify strategic opportunities and add immense value to your organisation to further its competitive advantage through the IERP®’s enterprise risk management for auditors program.
To become fully certified, participants will have 3 years to complete all training modules. Registration for individual training modules is also available.
International ERM Models and Standards (22 August 2022)
In order to successfully and effectively design and execute an ERM assurance program, it is essential that Auditors (internal and external) possess the requisite skills as well as a sound understanding and knowledge of the practical aspects and concepts of ERM. This program provides auditors with a sound understanding of the fundamentals, origins, development and current status of Risk Management practices and Risk Management standards utilised Internationally by most companies.
The program includes group discussions on the applicability of the various standards and models in practical ERM implementations. Participants will also be provided with an effective grounding and overview of the various Risk Management standards including COSO ERM and ISO 31000 and covers all aspects of Risk from a definitional perspective through the benefits and disadvantages of the various models and approaches.
Effective RCSAs (23 August 2022)
The linkages between Risk and Internal Controls are critical when considering and evaluating the effectiveness of Operational Risk Management issues, mitigations and processes – and is a critical component of the Auditors assurance responsibilities. This module encompasses a detailed examination into internal control concepts and issues relevant to the risk management process. Studies here include an examination into the contents and intent of the COSO’s 2013 revised Internal Control framework. Participants will be immersed in various evaluation options including that of Risk Control Self Assessments (RCSA). The program includes an in-depth study into the various RCSA approaches and options available – the approaches and methodologies including their purpose and design, tools, and their fit into an ERM framework. Contents of the program includes a detailed case study and exercise over a complete RCSA lifecycle and participants will be given the opportunity of practicing their new skills via a mini RCSA case study workshop.
Ensuring Effective ERM Practices (24-25 August 2022)
In order to be able to provide effective value added assurance services, successful Assurance professionals must possess a sound practical grounding in the theories and practices of ERM – and its linkages to other relevant and associated disciplines and standards (e.g. BCM). When implemented and utilised properly, ERM can become a driver for Commercial Sustainability as well as Organisational Agility and Resilience. This program coaches assurance professionals in how to achieve all of this utilising the IERP®’s practitioners based approaches. The module explains and re-emphasises the fundamentals of ERM, and shows how it can be utilised to drive strategy, performance, and the linkages to corporate governance and internal controls. Participants will also be taught how to apply strategic risk management concepts to enhance decision making processes and to add value to the business. The program includes practical exercises and guidance in implementing and utilising the objective centric (as opposed to Taxonomy) approach to ERM in line with International best practice. The program provides many discussion points and exercises, including case studies where the participants will apply the tools introduced during the training to identify, record, prioritise and mitigate risks. Participants will also be taught how to set up ERM monitoring systems to track progress and to maintain schedule as well as how to apply strategic risk management concepts to enhance decision making processes and value to the business. The module also explains and identifies effective internal controls as a risk mitigation tool and discusses how to establish effective risk mitigation strategies. This program coaches assurance professionals in how to achieve all of this via practical application of ERM fundamentals and how to achieve results through the effective use of the ERM framework and risk management tools.
QRA® Graduates of 2020
Only applicable to those seeking a full certification. There are no eligibility requirements for individual modules.
A degree-holder (or its equivalent, and above) with at least 3 years relevant working experience OR a non-degree holder with at least 10 years relevant working experience
- Internal Audit and Assurance professionals
- C-Level executives and head of departments who are decision-makers in their organisations
- Risk management professionals
- Non-risk management professionals working in Corporate Planning, Strategy, Governance, Compliance, Operations, Investment, Treasury, Product Development, Regulators, Legal, Quality, Environmental Health & Safety, Project Management, Insurance, Underwriting, and other related areas.
Who are the instructors?
All our faculty are practitioners with relevant assurance, risk management and BCM experience, averaging over 30 years of working experience each and with most of their last positions being C-Level executives in large national and multi-national corporations. Some hold Board Directorships and chair Board Committees such as Board Risk, Board Audit, and Board Investment Committees.
How many modules are there in this programme?
3 modules over 4 days
What is the time limit for me to finish this programme if I can’t attend all the modules within one year?
Maximum 3 years
Can I attend the certification program in other country?
Yes, however, you will have to pay whatever fee applicable in that country. And you will have to pay the travel, accommodation and subsistence yourself.
What will I get after taking this certification course?
- Enhances your professional credibility
- Gives you confidence that you have “passed through the chairs” and proof of ability
- Extends your knowledge and skills, preparing you for more job responsibilities
- Enriches self-image and reputation among peers
- Improves career opportunities-promotion, pay increases, job portability
- Establishes you as a continuous learner who believes in continuous professional development
- Gives you an edge over your competition in the eye of your potential employers
- Plugs you into a new network of like-minded risk professionals “club”
In addition, you will receive instant recognition that you have achieved the minimum standard of competency as a certified and qualified enterprise risk manager. Organizations have also started approaching the Institute to source for risk managers – which is one of the services that the Institute offers to corporate members of the Institute.