Effective Risk Responses for IT Risks and Controls Capability
Question
After performing a gap analysis of IT risks and controls capability, the MOST important consideration for the associated risk responses is that they are:
Answers
Explanations
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A. B. C. D.C.
After performing a gap analysis of IT risks and controls capability, the most important consideration for the associated risk responses is that they are assessed for the severity of impact.
Explanation:
Gap analysis is the process of comparing the current state of IT risks and controls with the desired state. This analysis identifies the gaps in the current state that need to be addressed to achieve the desired state. Once the gaps are identified, risk responses need to be developed to address the gaps.
Risk responses are actions taken to reduce the likelihood or impact of risks. When developing risk responses, it is essential to consider the severity of the impact of the risks. The severity of impact is the extent of harm that could result from a risk event. The higher the severity of impact, the more significant the risk.
Assessing the severity of impact helps to prioritize the risk responses. Risks with a high impact require immediate attention, while risks with a low impact may not require immediate action. Therefore, assessing the severity of impact is critical when developing risk responses.
The other options, such as adding risk responses to the IT balanced scorecard, submitting them to the audit committee, or obtaining approval from executive management, are all important steps in the risk management process. However, assessing the severity of impact is the most important consideration because it helps to prioritize the risk responses and ensure that the most significant risks are addressed first.
