You are the IT manager in Bluewell Inc.
You identify a new regulation for safeguarding the information processed by a specific type of transaction.
What would be the FIRST action you will take?
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A. B. C. D.A.
When a new regulation for safeguarding information processed by a specific type of transaction is being identified by the IT manager, then the immediate step would be to understand the impact and requirements of this new regulation.
This includes assessing how the enterprise will comply with the regulation and to what extent the existing control structure supports the compliance process.
After that manager should then assess any existing gaps.
Incorrect Answers: B, C, D: These choices are appropriate as well as important, but are subsequent steps after understanding and gap assessment.
As an IT manager, if you identify a new regulation for safeguarding the information processed by a specific type of transaction, the first action you should take is to assess whether existing controls meet the regulation. Therefore, option A is the correct answer.
Here's why:
Assessing whether existing controls meet the regulation is the first and most critical step in ensuring compliance with the new regulation. This step involves reviewing the current information security policies, procedures, and controls to determine whether they meet the requirements of the new regulation. If the existing controls meet the requirements, no further action may be needed. However, if there are gaps, you will need to develop and implement new controls to ensure compliance with the regulation.
Updating the existing security privacy policy, meeting with stakeholders to decide how to comply, or analyzing the key risk in the compliance process are all important steps in achieving compliance with the regulation, but they should only be taken after you have assessed whether existing controls meet the regulation. These steps should be taken as part of a comprehensive compliance plan that addresses all of the requirements of the regulation.
In summary, assessing whether existing controls meet the regulation is the first and most critical step in ensuring compliance with the new regulation. It sets the foundation for developing a comprehensive compliance plan that addresses all of the requirements of the regulation.