Which of the following risk register elements is MOST likely to be updated if the attack surface or exposure of an asset is reduced?
Answer(s): A
The risk register element that is most likely to be updated if the attack surface or exposure of an asset is reduced is the likelihood rating, as this reflects the probability or frequency of a risk event occurring. The attack surface or exposure of an asset is the measure of the extent and accessibility of the asset to potential threats or attackers. If the attack surface or exposure of an asset is reduced, the likelihood of the asset being compromised or damaged by a risk event is also reduced. Therefore, the likelihood rating of the risk should be updated accordingly. Theother options are not the risk register elements that are most likely to be updated if the attack surface or exposure of an asset is reduced, although they may be affected or influenced by it. Control effectiveness is the measure of how well the risk controls reduce the risk level or achieve the control objectives. Assessment approach is the method or technique used to identify, analyze, and evaluate the risks. Impact rating is the measure of the magnitude or severity of the consequences of a risk event on the asset or the organization. References = Risk and Information Systems Control Study Manual, Chapter 2:IT Risk Identification, page 54.
A risk manager has determined there is excessive risk with a particular technology. Who is the BEST person to own the unmitigated risk of the technology?
The best person to own the unmitigated risk of the technology is the IT system owner. The IT system owner is the person or entity that has the authority and responsibility for the acquisition, development, maintenance, and operation of the IT system. The IT system owner is also responsible for ensuring that the IT system meets the business requirements, security standards, and compliance obligations of the enterprise. The IT system owner should own the unmitigated risk of the technology, as they are in the best position to understand the nature and impact of the risk, and to implement the appropriate risk responses to reduce the risk exposure to an acceptable level. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 1, Section 1.3.1, page 251234
An organization is increasingly concerned about loss of sensitive data and asks the risk practitioner to assess the current risk level. Which of the following should the risk practitioner do FIRST?
Review Assignments of Data Ownership for Key Assets:Data Ownership: Ensuring that data ownership is clearly assigned helps establish accountability for data protection. Data owners are responsible for the classification,management, and protection of data.Baseline Understanding: Reviewing data ownership assignments provides a baseline understanding of who is responsible for sensitive data and ensures that the responsibilities are clearly defined and understood.Compliance and Control: Proper data ownership ensures that controls are in place and that there is compliance with data protection policies and regulations.Comparison with Other Options:Identify Staff Who Have Access to Sensitive Data: This is important but should follow the establishment of clear data ownership to ensure that access controls are appropriately applied. Identify Recent and Historical Incidents Involving Data Loss: Reviewing incidents helps understand past issues but does not address current data ownership and accountability. Review the Organization's Data Inventory: While important, a data inventory review is part of understanding data ownership and control but should not be the first step.Best Practices:Clear Documentation: Ensure that data ownership is clearly documented and communicated across the organization.Regular Reviews: Conduct regular reviews of data ownership assignments to ensure they remain accurate and up-to-date.Training and Awareness: Provide training to data owners on their roles and responsibilities regarding data protection and risk management.
CRISC Review Manual: Highlights the importance of data ownership in managing and protecting sensitive information within an organization. ISACA Guidelines: Recommend establishing clear data ownership and accountability as a foundational step in effective data risk management.
An IT license audit has revealed that there are several unlicensed copies of co be to:
Answer(s): C
An IT license audit is a process that verifies the compliance of the IT software and hardware assets with the licensing agreements and regulations. An IT license audit can reveal the existence of unlicensed copies of software, which can expose the enterprise to legal,financial, and reputational risks. The best course of action in such a situation is to report the issue to management so that appropriate action can be taken. Management can then decide on the most suitable risk response strategy, such as procuring the necessary licenses, uninstalling the unlicensed software, or negotiating with the software vendor. Reporting the issue to managementcan also help to prevent further violations, identify the root causes, and implement corrective and preventive measures. The other options are not the best course of action, as they may not address the issue effectively, efficiently, or ethically. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 4, Section 4.2.1.1, pp. 156-157.
Which of the following is PRIMARILY responsible for providing assurance to the board of directors and senior management during the evaluation of a risk management program implementation?
Answer(s): D
Internal audit provides independent assurance to the board and senior management regarding the effectiveness of risk management program implementation, consistent withGovernance and Assurance Principles.
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