Isaca Updated CRISC Exam Questions and Answers by harleen

Scanning the Internet for Unauthorized Usage:

Proactive Detection: Continuously scanning the internet helps in identifying unauthorized use of the enterprise’s brand, allowing for timely action to mitigate such activities.

Protection of Brand Integrity: By detecting unauthorized usage early, the organization can take steps to protect its brand reputation and prevent potential misuse or fraud.

Steps Involved:

Automated Monitoring Tools: Use automated tools to scan websites, social media platforms, and other online spaces for unauthorized use of the brand.

Incident Response: Develop a response plan to address incidents of unauthorized usage, including legal actions and takedown requests.

Comparison with Other Options:

Utilizing Data Loss Prevention (DLP) Technology: DLP focuses on preventing data breaches and leaks within the organization, not on monitoring external brand misuse.

Monitoring the Enterprise's Use of the Internet: Internal monitoring does not address external unauthorized use of the brand.

Developing Training and Awareness Campaigns: These are important for internal awareness but do not directly mitigate the risk of external fraudulent use.

Best Practices:

Regular Updates: Continuously update scanning tools and techniques to adapt to new methods of brand misuse.

Legal Support: Ensure legal frameworks are in place to act quickly against unauthorized usage.

CRISC Review Manual: Highlights the importance of proactive monitoring for brand protection and provides guidelines for effective implementation​​.

ISACA Guidelines: Discuss the role of external monitoring in identifying and addressing unauthorized use of the organization’s brand​​.

References:

A risk awareness program is a set of activities that aim to educate and inform employees about the organization’s risk culture, policies, and procedures. A risk awareness program can help improve an organization’s risk culture by enhancing the employees’ understanding of risk, their roles and responsibilities in risk management, and the benefits of risk mitigation. A risk awareness program can also foster a culture of openness, trust, and collaboration among employees, managers, and stakeholders, which can improve the organization’s risk performance and resilience.

Maintaining a documented risk register, rewarding employees for reporting security incidents, and allocating resources for risk remediation are also important aspects of risk management, but they do not directly address the organization’s risk culture, which is the shared values, beliefs, and attitudes that influence how risk is perceived and handled within the organization.

According to the FIC Article by FSCA, accountable institutions remain fully accountable, responsible and liable for any compliance failures that may result from or be associated with an outsourcing arrangement and as such, liability and/or culpability for non-compliance with the FIC Act obligations cannot be transferred to a third-party service provider2. Therefore, even if a business process is outsourced to a cloud service provider, the organization still has the ultimate responsibility and accountability for the risk associated with the outsourced process. The other options are not correct, as they imply that the cloud service provider can take over the accountability or responsibility for the risk, or that the organization can mitigate the risk by acquiring insurance, which is not the case.

Conducting interviews with senior management is the best method for determining an enterprise’s current appetite for risk, because it helps to obtain the direct and qualitative input and feedback from the senior management on their expectations and preferences regarding the level and type of risk that the enterprise is willing to accept or pursue, in relation to its objectives and strategy. Risk appetite is the amount and nature of risk that an enterprise is willing to take in order to achieve its objectives and create value. Risk appetite is influenced by factors such as the enterprise’s culture, values, vision, mission, and strategy, as well as the external environment and stakeholders. Risk appetite may vary depending on the context and situation, and may change over time. Conducting interviews with senior management is the best method, as it helps to understand and capture the current and explicit risk appetite of the enterprise, and to align the risk management process and activities with the senior management’s risk vision and direction. Conducting comparative analysis of peer companies, reviewing brokerage firm assessments, and performing trend analysis using prior annual reports are all possible methods for determining an enterprise’s current appetite for risk, but they are not the best method, as they may provide only indirect, quantitative, or historical information, and may not reflect the current and specific risk appetite of the enterprise. References = Risk and Information Systems Control Study Manual, Chapter 2, Section 2.2.1, page 45