The Importance of Compensating Controls

B.

Compensating controls are implemented to mitigate risks that cannot be addressed through other controls or to reduce the impact of a potential breach. The justification for implementing a compensating control is to reduce the risk to an acceptable level.

Out of the given options, risk analysis would be the BEST justification for spending on a compensating control. A risk analysis involves identifying potential threats and vulnerabilities, determining the likelihood of their occurrence, and evaluating the potential impact on the organization. This helps to identify the risks that need to be addressed and prioritized for mitigation.

Once the risks have been identified, the organization can evaluate the effectiveness of existing controls in mitigating those risks. If there are gaps in the existing controls or if the risks cannot be adequately mitigated through existing controls, compensating controls may be necessary.

Peer benchmarking and vulnerability analysis can also provide valuable information for security decision-making, but they do not necessarily provide a complete picture of the organization's risk profile. Peer benchmarking involves comparing an organization's security posture to that of other organizations, which can provide some context for evaluating the effectiveness of existing controls. Vulnerability analysis involves identifying vulnerabilities in the organization's systems and applications, which can inform the selection of controls to mitigate those vulnerabilities.

In summary, risk analysis is the most comprehensive and holistic approach to justifying spending on compensating controls, as it considers the full range of potential threats and vulnerabilities, and evaluates the effectiveness of existing controls in mitigating those risks.