Isaca Updated CGEIT Exam Questions and Answers by zayne

An enterprise that has identified potential environmental disasters that could occur in the area where its data center is located should next assess the likelihood and impact on the data center, because this would help to evaluate the level of risk and prioritize the appropriate risk response strategies. The likelihood and impact assessment should consider the frequency, severity, duration, and scope of the potential disasters, and the potential consequences for the data center’s availability, integrity, confidentiality, and performance12. References := ISACA, CGEIT Review Manual, 7th Edition, 2019, page 75-76.

The best criterion for prioritizing IT risk remediation when resource requirements are equal is the impact on business, as it reflects the potential consequences of the IT risk on the enterprise’s objectives, operations, reputation, and stakeholders. The impact on business can be measured by factors such as financial loss, operational disruption, customer dissatisfaction, regulatory violation, or reputational damage. The higher the impact on business, the higher the priority for IT risk remediation.

Deviation from IT standards, IT strategy alignment, and IT audit recommendations are also important criteria for prioritizing IT risk remediation, but they are not the best criterion. Deviation from IT standards is the degree to which an IT process, system, or service does not comply with the established policies, procedures, or best practices. Deviation from IT standards can indicate a weakness or gap in IT governance or management, but it does not necessarily reflect the severity or urgency of the IT risk. IT strategy alignment is the degree to which an IT process, system, or service supports and enables the enterprise’s strategy and goals. IT strategy alignment can indicate the value or importance of an IT process, system, or service, but it does not directly measure the impact of the IT risk on the business. IT audit recommendations are the suggestions or actions proposed by an IT auditor to address the findings or issues identified during an IT audit. IT audit recommendations can provide guidance and direction for IT risk remediation, but they are not a definitive or objective criterion for prioritization.

References := IT Risk Management Guide for 2022 | CIO Insight; What is IT Governance, Risk, and Compliance (GRC)?; Holistic IT Governance, Risk Management, Security and Privacy: Needed for Effective Implementation and Continuous Improvement - ISACA; Cyberrisk Governance: A Practical Guide for Implementation - ISACA.

Learn more:

1. cioinsight.com2. securityscorecard.com3. isaca.org4. isaca.org5. cldigital.com+1 more

According to the ISACA paper on IT Governance Reporting1, the IT strategy committee is a board-level committee that is responsible for overseeing and guiding the IT strategy and governance of the enterprise. The IT strategy committee helps to ensure that IT supports and enables the achievement of the enterprise’s strategy, objectives and goals, and that IT delivers value, benefits and competitive advantage to the enterprise. One of the decisions that would be made by the IT strategy committee is the composition of the investment portfolio, which is the set of IT projects and programs that are selected, prioritized, funded and monitored by the enterprise. The composition of the investment portfolio reflects the strategic alignment, value proposition and risk profile of IT, as well as the resource allocation and optimization of IT. The other options are not decisions that would be made by the IT strategy committee, but rather by other IT governance bodies or roles, such as the IT steering committee, the IT management team, or the chief information officer (CIO). References: IT Governance Reporting, IT Strategy Committee

The first step to strengthen and enforce current data governance practices after a data leakage incident is to verify data owners. Data owners are the individuals or groups who have the authority and responsibility to define, classify, protect, and manage the data assets of an enterprise1. By verifying data owners, the enterprise can ensure that the data is properly accounted for, categorized, and secured according to its value, sensitivity, and risk. Data owners can also establish data policies, standards, and procedures, as well as monitor and report on data quality, usage, and compliance1. Verifying data owners is a prerequisite for assessing data security controls, reviewing data logs, and analyzing data quality, as these activities depend on the accurate identification and assignment of data ownership roles and responsibilities. References: CGEIT Review Manual (Digital Version) or CGEIT Review Manual (Print Version), Chapter 4: Risk Optimization, Section 4.2: IT Risk Management Process, Subsection 4.2.1: IT Risk Identification, Page 163-164. Top 10 Effective Data Governance Tools.