OCEG GRC Auditor Certification GRCA Exam Practice Test

Answer : B

While GRC Assessment Tools can greatly aid in conducting a GRC assessment by providing structured methodologies and frameworks, it is not mandatory to use them. Assessments can be conducted using other methods and tools as long as they are systematic and thorough. The key is to apply professional judgment and ensure the assessment is comprehensive and aligned with the organization's needs. Reference:

ISO 31000:2018 - Risk management -- Guidelines

COSO Internal Control -- Integrated Framework

Answer : B

During the planning phase of an assessment, it is not necessary to conduct a complete risk assessment and detailed testing. Instead, limited information gathering and initial procedures are sufficient to estimate inherent risk and control risk, allowing planning to proceed. This initial estimate helps to set the scope and focus of the assessment. Detailed testing and a comprehensive risk assessment can be conducted during the actual assessment phase. This approach allows for a more efficient and flexible planning process. Reference:

ISO 19011:2018 - Guidelines for auditing management systems

NIST SP 800-30 Rev. 1 - Guide for Conducting Risk Assessments

Answer : C

Compliance is most associated with a 'measure of how well we are meeting obligations.' Compliance involves adhering to laws, regulations, policies, and standards that apply to an organization. It ensures that the organization is fulfilling its legal, regulatory, and ethical obligations, thereby avoiding penalties, legal issues, and reputational damage. Compliance programs include policies, procedures, training, monitoring, and audits to ensure that all obligations are consistently met. Reference:

ISO 19600:2014 - Compliance management systems - Guidelines

NIST SP 800-37 Rev. 2 - Risk Management Framework for Information Systems and Organizations

Answer : B

The level of assurance risk targeted by an assessment should be driven by the assessment's purpose and parameters. Not all assessments require very low or zero assurance risk; some may appropriately target higher levels of assurance risk depending on the context and objectives. The purpose and scope of the assessment, as well as the risk tolerance of the organization, will dictate the acceptable level of assurance risk. This approach ensures that resources are allocated efficiently and that the assessment is tailored to the specific needs and risks of the organization. Reference:

ISO 31000:2018 - Risk management -- Guidelines

COSO Enterprise Risk Management -- Integrating with Strategy and Performance

Answer : C

The dimensions of TOTAL Performance are Effectiveness, Resiliency, and Agility. Effectiveness refers to achieving the desired outcomes. Resiliency is the ability to recover from setbacks and continue operations. Agility is the capacity to adapt quickly to changes and new opportunities. These three dimensions collectively ensure that an organization can perform well under various conditions and sustain its success over time. Reference:

ISO 9001:2015 - Quality management systems -- Requirements

COSO Enterprise Risk Management -- Integrating with Strategy and Performance

Answer : A

Including the personnel who perform the work being assessed in the planning process is important because they possess valuable insights and knowledge about the processes and controls in place. Their involvement helps to ensure that the assessment is accurately scoped and relevant parameters are set. They can provide context and clarify operational details, contributing to a more effective and targeted assessment. Moreover, their engagement can foster a cooperative environment and facilitate smoother assessment execution. Reference:

ISO 19011:2018 - Guidelines for auditing management systems

COSO Internal Control -- Integrated Framework

Answer : B

It is important to use professional judgment when conducting a GRC assessment, rather than rigidly following all review procedures in the GRC Assessment Tools. While these tools provide valuable guidelines and frameworks, each organization and situation is unique. Professional judgment allows for flexibility and adaptation of the procedures to fit the specific context and nuances of the assessment, ensuring more relevant and effective outcomes. Reference:

ISO 19011:2018 - Guidelines for auditing management systems

IIA Standards for the Professional Practice of Internal Auditing