Isaca Updated CRISC Exam Questions and Answers by mathias

 Business process owners are the most important to include in the assessment of existing IT risk scenarios, as they have the authority and responsibility to manage the business processes and their associated risks and controls, and to provide the business perspective and requirements for the IT risk scenarios. Technology subject matter experts, business users of IT systems, and risk management consultants are not the most important to include, as they may have different roles and responsibilities related to the technical, operational, or advisory aspects of IT risk scenarios, respectively, but they do not own the business processes or the IT risk scenarios. References = CRISC Review Manual, 7th Edition, page 101.

 Whistleblower Program:

A whistleblower program provides a confidential and anonymous channel for employees to report unethical behavior, violations of laws, regulations, or company policies.

It is a proactive approach to uncover ethical violations that might not be detected through regular monitoring and controls.

 Enabling Detection:

Encourages employees to come forward without fear of retaliation.

Provides management with early warning signs of potential ethical issues, allowing them to address problems before they escalate.

 Comparing Other Methods:

Transaction Log Monitoring: While useful for detecting anomalies, it may not specifically identify ethical violations.

Access Control Attestation: Ensures that users have appropriate access but does not directly address ethical behavior.

Periodic Job Rotation: Helps prevent fraud by reducing opportunities for unethical behavior but may not actively detect violations.

 References:

The CRISC Review Manual discusses the role of whistleblower programs in managing ethical risks and detecting violations (CRISC Review Manual, Chapter 4: Risk Monitoring and Reporting, Section 4.4.4 Reporting Mechanisms) .

Role of Internal Audit:

Independent Assurance: Internal audit provides an independent assessment of the effectiveness of the risk management program, offering assurance to the board of directors and senior management.

Objective Evaluation: They evaluate whether the risk management processes are properly designed and operating effectively.

Responsibilities of Internal Audit:

Review Risk Management Implementation: Assess how well the risk management program has been implemented and whether it meets the organization's goals.

Compliance Check: Ensure that the risk management program complies with relevant regulations and standards.

Reporting: Provide detailed reports to the board and senior management on the effectiveness and efficiency of the risk management program.

Comparison with Other Options:

Risk Management: While involved in the implementation, they are not independent and therefore cannot provide objective assurance.

Business Units: They are responsible for managing risks but not for providing independent assurance.

External Audit: While they provide assurance, their scope is generally broader and less frequent compared to the continuous oversight by internal audit.

Best Practices:

Regular Audits: Conduct regular audits to ensure continuous improvement and alignment with organizational goals.

Stakeholder Communication: Maintain clear communication channels between internal audit, the board, and senior management.

CRISC Review Manual: Emphasizes the importance of internal audit in providing assurance to the board and senior management on the effectiveness of the risk management program​​.

ISACA Standards: Highlight the critical role of internal audit in risk governance and compliance​​.

References:

The business unit owner is accountable for authorizing application access in a SaaS environment because they are responsible for aligning access controls with business needs. They determine the roles and permissions needed to ensure operational effectiveness while adhering to the principle of Access Management in the CRISC framework.