ISACA: get a CRISC qualification without an exam

UPDATE 28/8/10: Read our full review of CRISC hereProfessionals with eight or more years of IT and business experience can now apply for ISACA’s new Certified in Risk and Information Systems Control (CRISC) designation—without taking an exam—under yet another grandfathering program. The program, which opened today, is designed to recognize professionals who are highly experienced - but will it do this, or will it be yet another surplus qualification?

Maybe ISACA should put it's emphasis on improving it's core CISA and CISM qualifications instead of introducing confusing new ones?