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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Communication, Reporting and Assurance | 15-20% | - Assurance and Audit Integration - Effective Communication Strategies - Continuous Monitoring - Reporting to Stakeholders |
| Topic 2: Technology and Data Analytics | 10-15% | - Artificial Intelligence in GRC - GRC Technology Platforms - Data Collection and Analysis - Dashboard and Visualization |
| Topic 3: Context Setting | 10-15% | - Business Objectives and Strategy Alignment - Legal, Regulatory and Contractual Requirements - Stakeholder Identification and Analysis - Organizational Culture and Values |
| Topic 4: GRC Fundamentals | 15-20% | - GRC Basic Concepts and Terminology - GRC Capability Model - Integrated GRC Philosophy - The Three Lines Model |
| Topic 5: Policies, Procedures and Controls | 15-20% | - Control Automation - Control Testing and Monitoring - Policy Framework Development - Control Design and Implementation |
| Topic 6: Risks and Opportunities | 20-25% | - Risk Response and Mitigation Strategies - Risk Identification and Assessment - Opportunity Management - Risk Appetite and Tolerance - Key Risk Indicators (KRIs) |
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NEW QUESTION # 164
(How is the effectiveness of the PERFORM component measured?)
Answer: D
Explanation:
In GRC capability and integrated control models, "PERFORM" focuses on executing actions and controls that achieve objectives while managing risk and meeting obligations. Measuring its effectiveness therefore centers on whether those actions/controls are well-designed (capable of preventing/detecting issues and enabling performance) and operating effectively (working consistently in practice). Option A reflects the standard GRC measurement approach used across internal control and assurance disciplines: design effectiveness asks
"would this control/action work if executed as intended?" and operating effectiveness asks "is it actually being executed reliably, by the right people, with evidence?" Feedback (B), ROI (C), and audits/inspections (D) can be useful inputs or techniques, but they are not the primary definition of effectiveness measurement for a control/action component. Audits, for example, are a mechanism used by assurance functions to test effectiveness, but the measurement itself is still grounded in design and operating effectiveness criteria.
NEW QUESTION # 165
How can an organization evaluate the adequacy of current levels of residual risk/reward and compliance?
Answer: D
Explanation:
Organizations evaluate the adequacy ofresidual risk/reward and complianceby applying structuredanalysis criteriato determine whether current levels align with their objectives and risk appetite.
* Analysis Criteria:
* Specific benchmarks or standards are used to measure whether residual risks and compliance efforts meet organizational expectations.
* Criteria are based on factors like likelihood, impact, regulatory requirements, and strategic goals.
* Process:
* Evaluate current levels using established criteria.
* Identify gaps and determine if further analysis or additional controls are required.
* Why Other Options Are Incorrect:
* A: Lawsuits and enforcement actions are outcomes, not methods of evaluating adequacy.
* C: Removing controls introduces risks and is not a recommended evaluation method.
* D: While external auditors provide insights, adequacy evaluation starts internally with analysis criteria.
References:
* COSO ERM Framework: Provides guidance on evaluating residual risk and compliance adequacy.
* ISO 31000 (Risk Management): Recommends using criteria to assess and refine risk management practices.
NEW QUESTION # 166
What is the role of suitable criteria in the assurance process?
Answer: B
Explanation:
Suitable criteriain the assurance process are essential for evaluating the subject matter being assessed, ensuring thatconsistent and meaningful resultsare achieved.
* Role of Suitable Criteria:
* Provide a foundation for comparison, making it possible to measure the accuracy, reliability, and integrity of the subject matter being evaluated.
* These criteria help standardize assessments across different evaluations and maintain consistency.
* Why Other Options Are Incorrect:
* A: Performance metrics assess operations but are not the primary role of criteria in the assurance process.
* B: Ethical standards are important but are not the focus of the evaluation criteria used in assurance activities.
* C: Resource allocation is a separate strategic task, not directly linked to assurance criteria.
References:
* ISO 19011 (Auditing Management Systems): Discusses the role of criteria in objective and consistent assessments.
* OCEG GRC Capability Model: Highlights the importance of clear benchmarks in the assurance process.
NEW QUESTION # 167
What are some systems-based methods for conducting inquiries?
Answer: C
NEW QUESTION # 168
What types of actions and controls are included in the PERFORM component of the GRC Capability Model?
Answer: C
Explanation:
The PERFORM component includes reactive, preventive, and corrective actions and controls, which are essential for executing governance, risk, and compliance processes effectively.
Types of Actions and Controls:
Reactive Controls: Respond to events or risks that have already occurred (e.g., incident response).
Preventive Controls: Aim to avoid or mitigate risks before they materialize (e.g., access controls).
Corrective Controls: Address issues or gaps identified after an event (e.g., remediation plans).
Integration in the PERFORM Component:
These controls ensure that the organization performs effectively while minimizing risks and achieving compliance.
Why Other Options Are Incorrect:
A: Internal, external, and hybrid controls describe types of oversight, not action types.
B: Mandatory, voluntary, and optional actions relate to obligations, not control types.
C: Proactive, detective, and responsive controls mix similar concepts but do not fully describe the PERFORM component.
Reference:
OCEG GRC Capability Model: Defines the types of actions and controls used in the PERFORM component.
ISO 31000 (Risk Management): Discusses risk management controls as preventive, reactive, or corrective.
NEW QUESTION # 169
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