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Question 63 - IT Risk Fundamentals discussion

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Which of the following is a valid source or basis for selecting key risk indicators (KRIs)?

A.

Historical enterprise risk metrics

Answers
A.

Historical enterprise risk metrics

B.

Risk workshop brainstorming

Answers
B.

Risk workshop brainstorming

C.

External threat reporting services

Answers
C.

External threat reporting services

Suggested answer: A

Explanation:

Sources for Selecting KRIs:

Historical Enterprise Risk Metrics: These provide data-driven insights into past risk events, helping to identify patterns and potential future risks.

Risk Workshop Brainstorming: While valuable, this approach relies on subjective input and may not be as reliable as historical data.

External Threat Reporting Services: Useful for understanding external risks, but may not provide comprehensive insights specific to the enterprise.

Importance of Historical Data:

Using historical risk metrics ensures that KRIs are based on actual risk occurrences and trends within the enterprise.

This approach allows for more accurate and relevant KRIs that reflect the enterprise's specific risk profile.

Reference:

ISA 315 (Revised 2019), Anlage 6 highlights the importance of using reliable and relevant data sources for risk management, ensuring that KRIs are effective in predicting and monitoring risks.

asked 18/11/2024
Kevin Harley
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