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Question 53 - IT Risk Fundamentals discussion

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What is the FIRST step in the risk response process?

A.

Prioritize responses based on impact.

Answers
A.

Prioritize responses based on impact.

B.

Review risk analysis.

Answers
B.

Review risk analysis.

C.

Review risk appetite.

Answers
C.

Review risk appetite.

Suggested answer: B

Explanation:

The first step in the risk response process is to review the risk analysis to ensure a thorough understanding of the identified risks and their potential impacts.

Risk Response Process Steps:

Review Risk Analysis: Understanding the nature and extent of the risks identified during the risk assessment.

Determine Risk Appetite: Establishing the level of risk the organization is willing to accept.

Prioritize Responses: Based on the impact and likelihood of risks, responses are prioritized to address the most significant risks first.

Reviewing the risk analysis is crucial as it lays the foundation for all subsequent steps in the risk response process.

This step ensures that decision-makers have accurate and comprehensive information about the risks.

ISA 315 (Revised 2019), Anlage 5 emphasizes the importance of understanding and evaluating risks as part of the overall risk assessment and response process.

asked 18/11/2024
Liusel Herrera Garcia
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