A consolidated view into the organization’s risk profile is a comprehensive and integrated representation of the risks that may affect the organization’s objectives, performance, and value creation12.
The most helpful material to provide a consolidated view into the organization’s risk profile is the IT risk register, which is a document that records and tracks the IT-related risks, their sources, impacts, likelihoods, responses, owners, and statuses within the organization34.
The IT risk register is the most helpful material because it provides a complete and consistent overview of the IT risk landscape, and enables the identification, analysis, evaluation, treatment, monitoring, and communication of IT risks across the organization34.
The IT risk register is also the most helpful material because it supports the project prioritization and resource allocation decisions, by highlighting the most significant and relevant IT risks, and by showing the alignment of the IT risk responses with the organization’s risk appetite, strategy, and objectives34.
The other options are not the most helpful materials, but rather possible inputs or outputs of the IT risk register. For example:
A list of key risk indicators (KRIs) is a set of metrics that measure the occurrence or status of IT risks, and provide timely and relevant information and feedback to the organization56. However, a list of KRIs is not the most helpful material because it does not provide a comprehensive and integrated view of the IT risk profile, but rather a snapshot or a trend of selected IT risks56.
Internal audit reports are documents that present the findings and recommendations of the internal audit function, which evaluates the adequacy and effectiveness of the IT risk management and control processes within the organization78. However, internal audit reports are not the most helpful material because they do not provide a comprehensive and integrated view of the IT risk profile, but rather a periodic and independent assessment of specific IT risk areas78.
A list of approved projects is a document that records and tracks the IT projects that have been authorized and funded by the organization, and their objectives, scope, schedule, budget, and status . However, a list of approved projects is not the most helpful material because it does not provide a comprehensive and integrated view of the IT risk profile, but rather a summary of the IT project portfolio . References =
1: Risk IT Framework, ISACA, 2009
2: IT Risk Management Framework, University of Toronto, 2017
3: IT Risk Register Template, ISACA, 2019
4: IT Risk Register Toolkit, ISACA, 2019
5: KPIs for Security Operations & Incident Response, SecurityScorecard Blog, June 7, 2021
6: Key Performance Indicators (KPIs) for Security Operations and Incident Response, DFLabs White Paper, 2018
7: IT Audit and Assurance Standards, ISACA, 2014
8: IT Audit and Assurance Guidelines, ISACA, 2014
IT Project Management Framework, University of Toronto, 2017
IT Project Management Best Practices, ISACA Journal, Volume 1, 2018
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