CRISC · Question #513
CRISC Question #513: Real Exam Question with Answer & Explanation
The correct answer is A: Develop a detailed risk profile.. To implement governance around organizational assets within an ERM program, a risk practitioner should first develop a detailed risk profile. This provides a comprehensive understanding of the organization's risks, including those related to assets, which is foundational for effe
Question
Which of the following should a risk practitioner do FIRST to support the implementation of governance around organizational assets within an enterprise risk management (ERM) program?
Options
- ADevelop a detailed risk profile.
- BHire experienced and knowledgeable resources.
- CSchedule internal audits across the business.
- DConduct risk assessments across the business.
Explanation
To implement governance around organizational assets within an ERM program, a risk practitioner should first develop a detailed risk profile. This provides a comprehensive understanding of the organization's risks, including those related to assets, which is foundational for effective governance.
Common mistakes.
- B. While experienced resources are important, developing an understanding of the risk landscape (risk profile) precedes staffing specific roles.
- C. Audits assess compliance and effectiveness of controls, but a risk profile is needed first to define what aspects of risk require governance.
- D. Conducting risk assessments is part of developing a risk profile, but the profile synthesizes these into a comprehensive view for governance.
Concept tested. Enterprise risk management foundational steps
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