Discrete risk management processes within an enterprise (CRMA)

The CRMA Study Guide does not recognise the possibility of discrete risk management processes within a single enterprise.

What to read first: Discrete risk management processes within an enterprise (supplement for risk specialists)

For CRMA candidates (IIA): This series assumes you have specialist interest in risk management theory, and that you have a copy of the CRMA Study Guide.

As an enthusiastic CRMA candidate, you will have already read the Everyone articles and risk specialist articles on discrete risk management processes within an enterprise.


The CRMA Study Guide does not recognise the possibility of discrete risk management processes within a single enterprise.

The Guide tends to follow the COSO ERM assumption that there is a unitary view of enterprise risk, without specifically recommending that. The CRMA idea of ‘coordination of risk management activities’ is fairly obsessive about a single integrated view (Figure IV.10). There is an acknowledgement that diverse practices may have evolved, and that is regarded as a problem to be fixed (page 191, fourth paragraph).

Some of the other authorities recognised in the Study Guide make slightly different assumptions. None of them throw a clear light on the option to have discrete risk management processes within an enterprise.

For passing the CRMA exam, you should adopt the views of the Study Guide. As an assessor of organisation risk management effectiveness, the CRMA holder will need to have a fair and mature view of organisations with discrete and differing risk management processes, with or without integration. Clear Lines on Audit and Risk promotes a view different to the assumptions in the Study Guide, precisely because it is also concerned with making risk management effective, emphasising fitness for purpose over standardisation. Reflect upon ISO 31000 Key Principle G: Risk management is tailored.

Parent articles

Discrete risk management processes within an enterprise (supplement for risk specialists)

Seen it all: This series assumes you know risk terms and concepts. It includes references to standards.

Vocabulary for ‘risk management process’

Clear Lines on Audit and Risk uses the term ‘discrete risk management process’ to refer to an identifiable application of risk management that has a defined context and scope. A discrete risk management process would typically have its own risk register. It may also have its own risk criteria.

Seen it all: This series assumes you know risk terms and concepts. It includes references to standards.

COSO and ISO 31000 on discrete risk management processes

COSO ERM and ISO 31000 do not recognise discrete risk management processes within an enterprise.

Seen it all: This series assumes you know risk terms and concepts. It includes references to standards.

ERM and discrete risk management processes

ERM may try to recognise all risks everywhere, or just high level risks. Trying to recognise all risks in ERM may be easier with many discrete risk management processes.

Seen it all: This series assumes you know risk terms and concepts. It includes references to standards.

Index to the topic Discrete risk management processes within an enterprise

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