OCEG Updated GRCA Exam Questions and Answers by ebony

Compliance is defined as a measure of the degree to which obligations and requirements are addressed. It involves adhering to laws, regulations, policies, and standards that are relevant to the organization. Compliance ensures that the organization meets its legal and ethical obligations, thereby avoiding legal penalties, reputational damage, and operational disruptions. Effective compliance programs involve continuous monitoring, training, and auditing to ensure all requirements are met and maintained.References:

ISO 19600:2014 - Compliance management systems - Guidelines

NIST SP 800-37 Rev. 2 - Risk Management Framework for Information Systems and Organizations

The level of assurance risk targeted by an assessment should be driven by the assessment's purpose and parameters. Not all assessments require very low or zero assurance risk; some may appropriately target higher levels of assurance risk depending on the context and objectives. The purpose and scope of the assessment, as well as the risk tolerance of the organization, will dictate the acceptable level of assurance risk. This approach ensures that resources are allocated efficiently and that the assessment is tailored to the specific needs and risks of the organization.References:

ISO 31000:2018 - Risk management – Guidelines

COSO Enterprise Risk Management – Integrating with Strategy and Performance

The two factors that drive the potential level of assurance an assurance provider may target are competence and objectivity. Competence refers to the assurance provider's knowledge, skills, and experience necessary to perform the assessment effectively. Objectivity refers to the assurance provider's impartiality and independence from the area being assessed, ensuring that the assessment is unbiased and credible. Both factors are essential for providing a reliable and accurate assurance.References:

IIA Standards for the Professional Practice of Internal Auditing

ISO 19011:2018 - Guidelines for auditing management systems

The dimensions of TOTAL Performance are Effectiveness, Resiliency, and Agility. Effectiveness refers to achieving the desired outcomes. Resiliency is the ability to recover from setbacks and continue operations. Agility is the capacity to adapt quickly to changes and new opportunities. These three dimensions collectively ensure that an organization can perform well under various conditions and sustain its success over time.References:

ISO 9001:2015 - Quality management systems – Requirements

COSO Enterprise Risk Management – Integrating with Strategy and Performance