OCEG GRCA GRC Auditor Certification Exam Practice Test

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

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 : 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 : A

Being 'effective' is best defined as a combination of design effectiveness and operating effectiveness. Design effectiveness refers to how well a control or process is structured to achieve its intended outcomes, while operating effectiveness assesses how well the control or process is functioning in practice. Together, these dimensions ensure that controls are not only well-designed but also effectively implemented and operational. Reference:

COSO Internal Control -- Integrated Framework

ISO 31000:2018 - Risk management -- Guidelines

Answer : A

When inspecting information, the Content Criteria provides a guide to evaluating the design of the control. Content Criteria help ensure that the controls are appropriately designed to achieve their intended purpose. Evaluating the design involves assessing whether the control's structure, procedures, and policies are adequate to mitigate identified risks and meet regulatory and organizational requirements. Reference:

ISO 19011:2018 - Guidelines for auditing management systems

COSO Internal Control -- Integrated Framework

Answer : B

Follow-up should not be restricted to the recommendations and action plan alone. It should also target the underlying risk to ensure that the actions and controls implemented are effectively mitigating the identified risks. If the follow-up reveals that the planned actions and controls are not working as intended, it is essential to identify and recommend necessary changes to address the underlying risk adequately. This approach ensures that the root causes of issues are addressed and that the organization is protected against potential risks. Reference:

ISO 31000:2018 - Risk management -- Guidelines

COSO Enterprise Risk Management -- Integrating with Strategy and Performance

Answer : A

Follow-up on the implementation status of the recommendation from within the area being assessed is known as Follow-Up by Process Owner. This approach involves the individuals responsible for the area under assessment reviewing the progress of implementing recommendations and controls. It ensures that those directly involved in the process take ownership and accountability for addressing the identified issues. Reference:

ISO 19011:2018 - Guidelines for auditing management systems

COSO Internal Control -- Integrated Framework