Isaca CRISC Exam With Confidence Using Practice Dumps

The greatest concern of maintaining independent departmental risk registers that are not automatically aggregated is that management may be unable to accurately evaluate the risk profile. The risk profile is the overall view of the risks that the organization faces and their impact on the organization’s objectives. It helps management to prioritize and allocate resources for risk management and to align the risk appetite and strategy. If the departmental risk registers are not aggregated, management may not have a complete and consistent picture of the risks across the organization. They may miss some important risks, overestimate or underestimate some risks, or have conflicting or redundant risk information. This may lead to poor risk management decisions and outcomes. The other options are also concerns, but they are not as critical as the inability to evaluate the risk profile. References = Risk and Information Systems Control Study Manual, Chapter 2: IT Risk Assessment, Section 2.2: IT Risk Analysis, page 63.

 The best method to identify unnecessary controls is reviewing system functionalities associated with business processes, because this can help to determine whether the controls are relevant, effective, and efficient for the current business needs and objectives. System functionalities are the capabilities and features of IT systems that support the execution and performance of business processes. Business processes are the set of interrelated activities that transform inputs into outputs to deliver value to customers or stakeholders. By reviewing system functionalities associated with business processes, an organization can assess whether the controls are aligned with the process requirements, expectations, and outcomes, and whether they add value or create waste. The review can also identify any gaps, overlaps, redundancies, or conflicts among the controls, and any changes or improvements that are needed to optimize the controls. The other options are less effective methods to identify unnecessary controls. Evaluating the impact of removing existing controls can help to measure the benefits and costs of the controls, but it does not address the root causes or sources of the unnecessary controls. Evaluating existing controls against audit requirements can help to ensure compliance and assurance, but it does not consider the business context or purpose of the controls. Monitoring existing key risk indicators (KRIs) can help to measure the level and impact of risks, but it does not evaluate the suitability or adequacy of the controls. References = Surveying Staff to Identify Unnecessary Internal Controls - Methodology and Results 

 Key control indicators (KCIs) are metrics that measure how well a specific control is performing in reducing the causes, consequences, or likelihood of a risk1. Key risk indicators (KRIs) are metrics that measure changes in the risk exposure or the potential impact of a risk2. By linking an effective KCI to relevant KRIs, the organization can monitor changes in the risk environment and assess how the control is influencing the risk level3. This can help the organization to:

Identify emerging or escalating risks and take timely and appropriate actions

Evaluate the effectiveness and efficiency of the control and make improvements if needed

Align the control with the risk appetite and tolerance of the organization

Communicate the risk and control status to stakeholders and regulators

References = Risk and Information Systems Control Study Manual, Chapter 6: Risk Response and Mitigation4