CRISC Exam Dumps - Certified in Risk and Information Systems Control

The risk owner is primarily accountable for risk treatment decisions, as they are the person or entity with the authority and responsibility to manage a particular risk. The risk owner shouldevaluate the available risk response options, select the most appropriate one, implement the chosen response, and monitor its effectiveness. The risk owner should also communicate and report on the risk status and any issues or changes. The business manager, data owner, and risk manager are not primarily accountable for risk treatment decisions, although they may be involved in the risk management process. The business manager is responsible for the overall performance and objectives of a business unit or function. The data owner is responsible for the security and quality of a specific data asset. The risk manager is responsible for facilitating and coordinating the risk management activities across the organization. References = Risk and Information Systems Control Study Manual, Chapter 2: IT Risk Identification, page 47.

The application risk profile should be updated when reviewing functional requirements. This will help to identify and assess the potential risks that may arise from the changes to the application, and to plan and implement appropriate risk responses. Updating the application risk profile at this stage will also help to ensure that the changes are aligned with the organization’s objectives, policies, and standards, and that they meet the stakeholders’ expectations and needs. Updating the application risk profile after user acceptance testing, upon release to production, or during backlog scheduling are not the best points to update the risk profile, as they may be too late or too early to capture the relevant risks and their impacts. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 2, Section 2.1.1.1, page 511

1: ISACA Certified in Risk and Information Systems Control (CRISC®) Exam Guide, Answer to Question 655.

Information security risk factors are the sources of uncertainty that may affect the confidentiality, integrity, or availability of information assets within an organization. Information security risk factors can include threats, vulnerabilities, or impacts that may compromise the security of information assets. Information security risk factors should be mitigated when developing in-house applications, which are software applications that are designed, developed, and maintained by the organization itself, rather than by external vendors or providers. Mitigating information security risk factors when developing in-house applications canhelp prevent or reduce the occurrence or consequences of security incidents, such as data breaches, cyberattacks, unauthorized access, or data loss. The best way to ensure that information security risk factors are mitigated when developing in-house applications is to identify information security controls in the requirements analysis. The requirements analysis is the stage of the system development life cycle (SDLC) where the business needs and expectations of the application are defined and documented. The requirements analysis should include the functional and non-functional requirements of the application, such as the features, functions, performance, quality, reliability, and security of the application. Identifying information security controls in the requirements analysis can help ensure that the security requirements of the application are clearly specified and agreed upon by the stakeholders, and that they are aligned with the organization’s security policies, standards, and regulations. Identifying information security controls in the requirements analysis can also help ensure that the security requirements are integrated into the design, development, testing, and deployment of the application, and that they are verified and validated throughout the SDLC. Identifying information security controls in the requirements analysis can also help ensure that the security requirements are traceable, measurable, and manageable, and that they can be monitored and reviewed for effectiveness and efficiency. References = THE SYSTEM DEVELOPMENT LIFE CYCLE (SDLC), p. 2-3, System Development Life Cycle - GeeksforGeeks, 7.3: Systems Development Life Cycle - Engineering LibreTexts, What Is SDLC? 7 Phases of System Development Life Cycle - Intetics.

A risk response action plan is a document that outlines the specific tasks, resources, timelines, and deliverables for the risk responses, which are the actions or strategies that are taken to address the risks that may affect the organization’s objectives, performance, or value creation12.

The most useful tool when measuring the progress of a risk response action plan is an up-to-date risk register, which is a document that records and tracks the significant risks that the organization faces, and the responses and actions that are taken to address them34.

An up-to-date risk register is the most useful tool because it provides a comprehensive and consistent view of the risk landscape, and the status and performance of the risk responses and actions34.

An up-to-date risk register is also the most useful tool because it enables the monitoring and evaluation of the risk response action plan, and the identification and communication of any issues or gaps that need to be resolved or improved34.

The other options are not the most useful tools, but rather possible metrics or indicators that may be used to measure the progress of a risk response action plan. For example:

Percentage of mitigated risk scenarios is a metric that measures the proportion of risk scenarios that have been reduced or eliminated by the risk responses and actions56. However, this metric is not the most useful tool because it does not provide a comprehensive and consistent view of the risk landscape, and it may not capture the residual or emerging risks that may arise after the risk responses and actions56.

Annual loss expectancy (ALE) changes is a metric that measures the difference between the expected annual losses before and after the risk responses and actions78. However, this metric is not the most useful tool because it does not provide a comprehensive and consistent view of the risk landscape, and it may not reflect the qualitative or intangible impacts of the risks or the risk responses and actions78.

Resource expenditure against budget is a metric that measures the amount of resources and funds that have been spent or allocated for the risk responses and actions, compared to the planned or estimated budget . However, this metric is not the most useful tool because it does not provide acomprehensive and consistent view of the risk landscape, and it may not indicate the effectiveness or efficiency of the risk responses and actions . References =

1: Risk Response Plan in Project Management: Key Strategies & Tips1

2: How to Create the Ultimate Risk Response Plan | Wrike2

3: Risk Register Template and Examples | Prioritize and Manage Risk3

4: Risk Register Examples for Cybersecurity Leaders4

5: Risk Scenarios Toolkit, ISACA, 2019

6: Risk Scenarios Starter Pack, ISACA, 2019

7: Annualized Loss Expectancy (ALE) - Definition and Examples5

8: Annualized Loss Expectancy (ALE) Calculator6

Project Budgeting: How to Estimate Costs and Manage Budgets7

Project Budget Template - Download Free Excel Template8

ï‚· Understanding the Question:

The question seeks to identify which source provides the most useful information for evaluating the effectiveness of existing controls.

ï‚· Analyzing the Options:

A. Previous audit reports:Provide historical data but might not reflect current risks.

B. Control objectives:These are standards to be achieved, not current evaluations.

C. Risk responses in the risk register:Useful but focused on specific responses rather than overall effectiveness.

D. Changes in risk profiles:Reflect current and emerging risks, providing a dynamic view of control effectiveness.

ï‚·

Risk Profiles:Evaluating changes in risk profiles helps understand how effective existing controls are against current threats. If risk levels are increasing, it may indicate that controls are insufficient or need updating.

Proactive Adjustment:By monitoring changes in risk profiles, organizations can proactively adjust their controls to address new or evolving risks.

 Residual risk is the risk that remains after applying controls to mitigate the inherent risk. Inherent risk is the risk that exists before considering the controls. Risk appetite is the amount and type of risk that an organization is willing to accept in pursuit of its objectives. Risk tolerance is the acceptable level of variation from the risk appetite. Improvements in the design and implementation of a control will most likely result in an update to the residual risk, because they will reduce the likelihood and impact of the risk event, and therefore lower the risk exposure and value. By improving the design and implementation of a control, the organization can enhance the effectiveness and efficiency of the control, and ensure that it is aligned with the risk objectives, expectations, and outcomes. The improvement can also address any gaps, overlaps, redundancies, or conflicts among the controls, and any changes or enhancements that are needed to optimize the controls. The other options are less likely to be updated due to improvements in the design and implementation of a control. The inherent risk will not change, as it is based on the nature and value of the asset and the threats and vulnerabilities that exist. The risk appetite and the risk tolerance will also not change, as they are based on the organization’s culture, strategy, and stakeholder expectations. Therefore, the most likely factor to be updated is the residual risk, as it reflects the actual risk level that the organization faces after applying the controls. References = Risk IT Framework, ISACA, 2022, p. 131

The most important factor for sustainable development of secure IT services is security training for systems development staff. Security training helps to ensure that the staff members are aware of the security risks, requirements, and best practices that affect the IT services they develop. Security training also helps to improve the security skills and knowledge of the staff members,and to foster a security culture and behavior within the development team. Security training can also help to prevent or reduce security defects, vulnerabilities, or incidents in the IT services, and to enhance the security performance and quality of the IT services. Well-documented business cases, security architecture principles, and secure coding practices are also important factors for sustainable development of secure IT services, but they are not as important as security trainingfor systems development staff. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 5, Section 5.1.1.2, page 2291

1: ISACA Certified in Risk and Information Systems Control (CRISC®) Exam Guide, Answer to Question 653.

Automated asset management software is the best method to track asset inventory, as it can provide accurate, timely, and comprehensive information about the organization’s IT assets, such as their location, status, configuration, ownership, and value. Automated asset management software can also help to optimize the utilization, performance, and lifecycle of the IT assets, and to reduce the risks of loss, theft, damage, or obsolescence. Automated asset management software can integrate with other systems, such as configuration management database (CMDB), service desk, and security tools, to enable better visibility, control, and governance of the IT assets.