Isaca Updated CRISC Exam Questions and Answers by ellen

 A risk profile is a summary of the key risks that affect an organization, a business unit, a process, or a project. A risk profile can help stakeholders understand the current and potential exposure to various sources of uncertainty, and prioritize the risk response accordingly. A risk profile should be aligned with the business objectives, which are the desired outcomes or results that the organization or the business unit wants to achieve. Updating the risk profile with risk assessment results best enables the risk profile to serve as an effective resource to support business objectives, because it ensures that the risk profile reflects the most accurate and up-to-date information about the risks and their impacts. Risk assessment is the process of analyzing and evaluating the likelihood and consequences of the identified risks, and comparing them with the risk criteria and appetite. Risk assessment results can provide valuable insights into the risk level, trend, and exposure, and help identify the most critical and relevant risks that need attention and action. Updating the risk profile with risk assessment results can help align the risk profile with the business objectives, by showing how the risks may affect the achievement of the objectives, and how the risk response can support or enhance the objectives. Updating the risk profile with risk assessment results can also help communicate and justify the risk profile to the business stakeholders, and obtain their feedback and approval. References = Risk Management Essentials: How to Develop a Risk Profile (TRN2-J07), Risk Assessment and Analysis Methods: Qualitative and Quantitative - ISACA, Using Risk Assessment to Support Decision Making - ISACA.

 A primary function of the risk register is to provide supporting information for the development of an organization’s risk profile, which is a comprehensive and structured representation of the risks that the organization faces. The risk profile helps the organization to understand its risk exposure, appetite, and tolerance, and to align its risk management strategy with its business objectives and context. The risk register is a document that records and tracks the identified risks, their causes, impacts, likelihood, responses, owners, and status. The risk register is an essential input for creating and updating the risk profile, as it provides the data and analysis of the risks that need to be prioritized and addressed. The other options are not the primary function of the risk register, although they may be related to it. The risk strategy is the plan and approach for managing the risks, and it is based on the risk profile. The risk process is the set of activities and tasks for identifying, assessing, responding, and monitoring the risks, and it is facilitated by the risk register. The risk map is a graphical tool for displaying the risks based on their impact and likelihood, and it is derived from the risk register. References = Risk Register: A Project Manager’s Guide with Examples [2023] • Asana; Purpose of a risk register: Here’s what a risk register is used for; Risk Register: Definition, Importance, and Elements! - Bit Blog; What is a Risk Register? A Complete Guide | Capterra; Risk Registers: What Are They, When Should You Use Them, and Why?

A control assessment is the process of evaluating the design and effectiveness of controls that are implemented to mitigate risks. A control assessment can help identify the root causes of data loss, the gaps in the existing controls, and the potential solutions to improve the control environment. A control assessment should be conducted after identifying a high probability of data loss in a system, as it can provide valuable information for risk response and reporting. References = Risk and Information Systems Control Study Manual, Chapter 3: Risk Response and Mitigation, Section 3.2: Control Assessment, p. 147-149.

 The effectiveness of an employee deprovisioning process can be measured by the number of days taken to remove access after staff separation dates, as this indicates how quickly and completely the organisation can revoke the privileges of former employees and reduce the risk of unauthorized access or data leakage. The number of days taken for IT to remove access after receipt of HR instructions is a measure of the efficiency of the IT department, but not the overall process. The number of termination requests processed per reporting period is a measure of the volume of the process, but not the quality or timeliness. The number of days taken for HR to provide instructions to IT after staff separation dates is a measure of the performance of the HR department, but not the entire process. References = Risk and Information Systems Control Study Manual, Chapter 4: Risk Response, page 152.