A risk scenario is an example of a tangible and assessable representation of risk. Here’s the breakdown:
Enterprise Risk Policy: This is a document that outlines the organization's approach to risk management. While important, it is not a specific, tangible representation of risk.
Risk Treatment Plan: This outlines the actions to mitigate identified risks. It is a strategy rather than a representation of specific risks.
Risk Scenario: This provides a detailed and concrete representation of potential risk events, their causes, and impacts. It allows for assessment and preparation, making it a tangible and assessable representation of risk.
Therefore, a risk scenario is the best example of a tangible and assessable representation of risk.
References:
ISA 315 Anlage 5 and 6: Understanding risks, scenarios, and their impacts on IT systems and business objectives.
ISO-27001 and GoBD guidelines on risk management and identification.
These references provide a comprehensive understanding of the concepts and principles involved in IT risk and audit processes.
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