Isaca IT Risk Fundamentals Exam - Topic 5 Question 10 Discussion

Actual exam question for Isaca's IT Risk Fundamentals exam

Question #: 10
Topic #: 5

[All IT Risk Fundamentals Questions]

Which of the following MUST be established in order to manage l&T-related risk throughout the enterprise?

AAn enterprise risk governance committee

BThe enterprise risk universe

CIndustry best practices for risk management

Show Suggested Answer

Suggested Answer: A

Purpose of Monitoring Control Statuses:

Organizations monitor control statuses to ensure that the controls in place are functioning correctly and achieving their intended outcomes.

Providing Assurance:

Monitoring control statuses provides assurance that the organization is compliant with established standards, regulations, and internal policies.

Compliance is a critical aspect of governance and risk management, ensuring that the organization operates within legal and regulatory frameworks.

Comparison of Options:

B ensuring risk events are fully mitigated is an important aspect but is secondary to the overarching goal of compliance.

C meeting ROI objectives is related to financial performance but does not directly relate to the primary purpose of control monitoring, which is compliance.

Conclusion:

Thus, the primary reason for monitoring control statuses is to provide assurance that compliance with established standards is achieved.

by Jolene at Feb 08, 2025, 05:32 PM

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Hermila

6 months ago

I thought we just needed a solid risk framework, not all this.

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Ming

6 months ago

Totally agree, the governance committee is a must!

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Arlette

6 months ago

Wait, are we sure industry best practices are enough?

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Ashley

7 months ago

I think the enterprise risk universe is more crucial.

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Judy

7 months ago

Definitely need an enterprise risk governance committee!

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Bettyann

7 months ago

I’m leaning towards the governance committee, but I recall discussions about how the risk universe could also be essential for a comprehensive approach.

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Glenn

7 months ago

I feel like industry best practices are important, but they might not be a requirement for managing risk across the whole enterprise.

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Jarvis

7 months ago

I remember a practice question that emphasized the importance of the enterprise risk universe. It seems like it could be the right answer here.

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Herminia

8 months ago

I think the enterprise risk governance committee is crucial, but I'm not entirely sure if it's the only thing that must be established.

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Nydia

8 months ago

I'm confident I know the answer to this. Establishing an enterprise risk governance committee is critical for overseeing risk management throughout the company.

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Benton

8 months ago

Okay, I think I've got this. The key is to identify the essential elements for managing L&T-related risk across the organization. Let me think this through carefully.

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Victor

8 months ago

Hmm, I'm not entirely sure about this one. I'll need to review my notes on enterprise risk management to figure out the best approach.

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Dulce

8 months ago

This question seems straightforward, but I want to make sure I understand the key concepts before selecting an answer.

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Jarvis

1 year ago

Seriously, though, I thought the enterprise risk universe was where all the Excel formulas go to die.

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Jina

11 months ago

C) Industry best practices for risk management

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Leslie

12 months ago

B) The enterprise risk universe

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Sena

12 months ago

A) An enterprise risk governance committee

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Augustine

1 year ago

Wait, I thought the correct answer was 'hire a team of fortune tellers and tea leaf readers'.

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Abel

12 months ago

Yeah, I agree. It's important to have a structured approach to managing risk.

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Alida

12 months ago

C) Industry best practices for risk management

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Suzan

12 months ago

B) The enterprise risk universe

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Lavera

12 months ago

That's an interesting approach, but I think having an enterprise risk governance committee is more practical.

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Kara

12 months ago

C) Industry best practices for risk management

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Mari

1 year ago

A) An enterprise risk governance committee

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Gregoria

1 year ago

B) The enterprise risk universe

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Kallie

1 year ago

A) An enterprise risk governance committee

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Jodi

1 year ago

Industry best practices for risk management? More like 'do whatever the consultants tell you to do'.

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Brandon

1 year ago

B) The enterprise risk universe

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Valentine

1 year ago

A) An enterprise risk governance committee

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Leatha

1 year ago

The enterprise risk universe? Is that like the Multiverse of Madness, but for spreadsheets?

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Raelene

1 year ago

An enterprise risk governance committee? Sounds like a fancy way to say 'the boss and their cronies'.

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Margurite

1 year ago

Industry best practices can also provide valuable guidance in managing risk effectively.

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Lauran

1 year ago

It's important to have a structured approach to managing risk, especially in a large organization.

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Marget

1 year ago

I agree, having a diverse group overseeing risk management can help prevent blind spots.

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Magdalene

1 year ago

Yeah, it does sound like that. But having a committee can help ensure different perspectives are considered.

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Sherita

1 year ago

I believe C) Industry best practices for risk management should also be considered to ensure comprehensive risk management.

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Rosalia

1 year ago

I agree with Carey. Having a committee in place can help oversee and manage the risks effectively.

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Carey

1 year ago

I think A) An enterprise risk governance committee must be established.

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