Pass CRISC Exam Guide

Conducting independent audits to verify that appropriate security controls are in place is the most effective way to mitigate the risk of data loss at a third-party provider. These audits provide assurance that the provider adheres to security best practices and complies with relevant standards and regulations. While contractual clauses and insurance can provide financial remedies post-incident, proactive verification of security controls helps prevent breaches from occurring in the first place.

An IT risk register is a document that is used as a risk management tool to identify, analyze, and track the potential risks related to the use of information technology within an organization. An IT risk register helps management to understand the organizational risk profile, which is a comprehensive and structured representation of the risks that the organization faces. The risk profile helps the organization to understand its risk exposure, appetite, and tolerance, and to align its risk management strategy with its business objectives and context. The risk register is an essential input for creating and updating the risk profile, as it provides the data and analysis ofthe risks that need to be prioritized and addressed12. The other options are not the best answers, as they are either not directly shown or derived from the IT risk register. Aligning IT processes with business objectives is a goal of IT governance, which may be influenced by the IT risk register, but not solely determined by it. Communicating the enterprise risk management policy is a responsibility of the senior management and the board of directors, which may use the IT risk register as a reference, but not as the main source. Staying current with existing control status is a function of IT audit and assurance, which may rely on the IT risk register as a basis, but not as the only evidence. References = Risk Register: A Project Manager’s Guide with Examples [2023] • Asana; Complete Guide to IT Risk Management | CompTIA