New Release CISM Isaca Certification Questions

 Risk acceptance is the decision to accept the level of residual risk after applying security controls, and to tolerate the potential impact and consequences of a security incident. Approval of risk acceptance should be provided by business senior management, as they are the owners and accountable parties of the business processes, activities, and assets that are exposed to the risk. Business senior management should also have the authority and responsibility to allocate the resources, personnel, and budget to implement and monitor the risk acceptance decision, and to report and escalate the risk acceptance status to the board of directors or the executive management.

The chief risk officer (CRO) (A) is a senior executive who oversees the organization’s risk management function, and provides guidance, direction, and support for the identification, assessment, treatment, and monitoring of risks across the organization. The CRO may be involved in the risk acceptance process, such as by reviewing, endorsing, or advising the risk acceptance decision, but the CRO is not the ultimate approver of risk acceptance, as the CRO is not the owner or accountable party of the business processes, activities, and assets that are exposed to the risk.

The information security manager © is the manager who leads and coordinates the information security function, and provides guidance, direction, and support for the development, implementation, and maintenance of the information security program and activities. The information security manager may be involved in the risk acceptance process, such as by conducting the risk assessment, recommending the risk treatment options, or documenting the risk acceptance decision, but the information security manager is not the ultimate approver of risk acceptance, as the information security manager is not the owner or accountable party of the business processes, activities, and assets that are exposed to the risk.

The compliance officer (D) is the officer who oversees the organization’s compliance function, and provides guidance, direction, and support for the identification, assessment, implementation, and monitoring of the compliance requirements and obligations across the organization. The compliance officer may be involved in the risk acceptance process, such as by verifying, validating, or advising the risk acceptance decision, but the compliance officer is not the ultimate approver of risk acceptance, as the compliance officer is not the owner or accountable party of the business processes, activities, and assets that are exposed to the risk.

References = CISM Review Manual, 16th Edition, Chapter 2: Information Risk Management, Section: Risk Treatment, Subsection: Risk Acceptance, page 95-961

The data owner is the most appropriate role to determine access rights for specific users of an application because they have legal rights and complete control over data elements4. They are also responsible for approving data glossaries and definitions, ensuring the accuracy of information, and supervising operations related to data quality5. The data custodian is responsible for the safe custody, transport, and storage of the data and implementation of business rules, but not for determining access rights4. The system administrator is responsible for managing the security and storage infrastructure of data sets according to the organization’s data governance policies, but not for determining access rights5. Senior management is responsible for setting the strategic direction and priorities for data governance, but not for determining access rights5.