Isaca Updated CRISC Exam Questions and Answers by savanna

The most important factor when identifying an organization’s risk exposure associated with IoT devices is visibility into all networked devices. This means having a comprehensive inventory of all the IoT devices connected to the organization’s network, as well as their configurations, functions, and security status. Visibility enables the organization to identify the potential threats and vulnerabilities that IoT devices pose, as well as the impact and likelihood of those risks. Visibility also helps the organization to monitor the behavior and performance of IoT devices, detect any anomalies or incidents, and respond accordingly. Without visibility, the organization may be unaware of the existence, location, or condition of some IoT devices, which could lead to undetected breaches, data loss, or operational disruptions. References = Risk and Information Systems Control Study Manual, Chapter 1: IT Risk Identification, Section 1.4: IT Risk Identification Methods and Techniques, Page 28; 8 Internet of Things Threats and Risks to Be Aware of - SecurityScorecard Blog.

Commitment to controls is the degree to which the organization and its stakeholders support and adhere to the controls that are designed and implemented to manage or mitigate the risks1. Commitment to controls is essential for ensuring the effectiveness and efficiency of the controls, as well as the achievement of the organization’s objectives and strategies2. The best way to promote commitment to controls is to assign control ownership, which is the process ofidentifying and assigning the person or entity that has the authority and accountability for a control and its management3. By assigning control ownership, the organization can ensure that the controls are properly and promptly designed, implemented, monitored, and maintained, and that the issues or gaps in the controls are identified andresolved4. Assigning control ownership also helps to establish and communicate the roles and responsibilities of the control owners and the other stakeholders, and to enforce the accountability and performance of the control owners5. Assigning appropriate resources, assigning a quality control review, and performing regular independent control reviews are not the best ways to promote commitment to controls, as they donot provide the same level of authority and accountability as assigning control ownership. Assigning appropriate resources is the process of allocating and providing the necessary funds, staff, equipment, or technology that are required to support or enable the controls. Assigning appropriate resources can enhance the quality and performance of the controls, but it does not ensure that the controls are managed or maintained by a specific person or entity. Assigning a quality control review is the process of conducting and documenting a systematic and objective examination and evaluation of the controls, to ensure that they meet the established standards and requirements. Assigning a quality control review can improve the reliability and compliance of the controls, but it does not ensure that the controls are owned or operated by a specific person or entity. Performing regular independent control reviews is the process of performing and reporting an independent and impartial assessment and verification of the controls, to provide assurance and advice on the adequacy and effectiveness of the controls. Performing regular independent control reviews can provide feedback and recommendations for the controls, but it does notensure that the controls are implemented or improved by a specific person or entity. References = 1: Commitment Controls - IMF2: 17 COSO Principles of Effective Internal Control | Weaver3: [Control Ownership - ISACA] 4: [Risk and Information Systems Control Study Manual, Chapter 5: Information Systems Control Design and Implementation, Section 5.1: Control Design, pp. 233-235.] 5: [Risk and Information Systems Control Study Manual, Chapter 5: Information Systems Control Design and Implementation, Section 5.2: Control Implementation, pp. 243-245.] : Resource Allocation - an overview | ScienceDirect Topics : Quality Control Review - an overview | ScienceDirect Topics : IT Risk Resources | ISACA : [Risk and Information Systems Control Study Manual, Chapter 2: IT Risk Assessment, Section 2.1: Risk Identification, pp. 57-59.] : [Risk and Information Systems Control Study Manual, Chapter 4: Risk and Control Monitoring and Reporting, Section 4.2: Risk Monitoring, pp. 189-191.] : [Risk and Information Systems Control Study Manual, Chapter 5: Information Systems Control Design and Implementation, Section 5.3: Control Monitoring and Maintenance, pp. 251-253.]

A key risk indicator (KRI) is a metric that provides information on the level of exposure to a given risk. Changes in risk trend data indicate that the likelihood or probability of a risk occurring has changed. Therefore, the frequency of risk occurrence should be updated in the risk register to reflect the current risk profile. The impact, cost, and legal aspects of risk realization are not directly affected by the changes in risk trend data, unless the nature or severity of the risk has also changed. (Risk and Information Systems Control Review Questions, Answers & Explanations Manual, 5th Edition, page 972

Mitigating technology risk to acceptable levels means that the organization implements and maintains appropriate controls to reduce the likelihood and impact of potential threats or losses that may arise from the use of technology, such as IT systems, applications, networks, devices, etc.

The primary factor that should guide the mitigation of technology risk is the organizational risk appetite. This means that the organization defines and communicates the amount and type of risk that it is willing to accept or pursue in order to achieve its objectives and strategy.

The organizational risk appetite helps to determine the risk tolerance and thresholds for different risk categories and scenarios, prioritize the risks, select the most suitable risk responses, allocate the resources and budget for risk management, and monitor and report the risk performance and outcomes.

The other options are not the primary factors that should guide the mitigation of technology risk. They are either secondary or not essential for risk management.

The references for this answer are:

Risk IT Framework, page 25

Information Technology & Security, page 19

Risk Scenarios Starter Pack, page 17