ISO-31000-CLA

The GAQM ISO 31000 Certified Lead Auditor (CLA) exam focuses on demonstrating a comprehensive understanding of ISO 31000:2018, the international standard for risk management. The main points covered include:

1. Understanding the Principles of ISO 31000: This is foundational. Candidates need to know the core principles of risk management as defined by the standard, including:

• Creating and maintaining context: Understanding the organization's internal and external environment, objectives, and risk appetite.
• Leadership and commitment: The role of top management in establishing and maintaining a risk management framework.
• Integrating risk management: Embedding risk management within all organizational processes and activities.
• Tailoring: Adapting the risk management approach to the organization's specific context and needs.
• Collaboration and communication: Effective communication and collaboration among stakeholders.
• Risk control and monitoring: Establishing, implementing, and monitoring controls to manage risks.
• Review and improvement: Continuously reviewing and improving the risk management process.

2. The Risk Management Process: The exam heavily emphasizes the stages of the risk management process:

• Establishing the context: Defining scope, objectives, criteria, and risk appetite.
• Identifying risks: Using various techniques to identify potential risks (e.g., brainstorming, SWOT analysis).
• Analyzing risks: Assessing the likelihood and impact of identified risks.
• Evaluating risks: Determining the overall significance of risks based on likelihood and impact.
• Treating risks: Developing and implementing strategies to manage risks (e.g., avoidance, mitigation, transfer, acceptance).
• Monitoring and reviewing: Tracking the effectiveness of risk treatments and making adjustments as needed.

3. Risk Management Techniques and Tools: The exam expects candidates to be familiar with a variety of techniques and tools used in risk management, such as:

• Risk assessment matrices: Visual tools for evaluating likelihood and impact.
• Risk registers: Centralized repositories of identified and assessed risks.
• Key Risk Indicators (KRIs): Metrics used to monitor the effectiveness of risk treatments.
• Risk appetite statements: Formal expressions of the organization's tolerance for risk.
• Different risk treatment strategies: Avoidance, mitigation, transfer, acceptance.

4. Auditing Risk Management Systems: A significant portion of the exam focuses on auditing aspects:

• Planning an audit: Defining the scope, objectives, and methodology of the audit.
• Conducting an audit: Gathering evidence, interviewing stakeholders, and reviewing documentation.
• Reporting audit findings: Communicating audit results and recommendations to management.
• Following up on audit findings: Verifying that corrective actions have been implemented.
• Understanding audit standards and procedures: Using appropriate auditing techniques and documenting findings correctly.

5. Legal and Regulatory Compliance: Understanding how risk management relates to legal and regulatory requirements and demonstrates compliance.

In short, the GAQM ISO 31000 CLA exam tests the candidate's ability to understand, apply, and audit a robust risk management system based on the ISO 31000 standard. It's not just about memorizing the standard; it's about demonstrating practical knowledge and the ability to apply it in real-world scenarios.