Because of a potential data breach, an organization has decided to temporarily shut down its online sales order system until sufficient controls can be implemented. Which risk treatment has been selected?
Correct Answer: A
* Risk Treatment Strategy - Avoidance:
* Definition: Risk avoidance involves taking actions to completely eliminate a risk by discontinuing the activities or conditions that give rise to it.
* Application: In this case, the organization decided to shut down its online sales order system temporarily to avoid the risk of a data breach until sufficient controls are implemented.
* Steps Involved:
* Identifying the Risk: Recognizing the potential for a data breach due to inadequate controls.
* Decision to Avoid: Determining that the best course of action is to shut down the system to prevent any possible breach.
* Implementation: Taking immediate action to shut down the system and communicate this decision to relevant stakeholders.
* Comparison with Other Options:
* Transfer: Involves shifting the risk to another party (e.g., through insurance), which is not applicable here.
* Mitigation: Involves reducing the impact or likelihood of the risk, but does not eliminate it completely as avoidance does.
* Acceptance: Accepting the risk without taking action, which is not the chosen strategy here.
* Best Practices:
* Comprehensive Risk Assessment: Conduct thorough risk assessments to determine when risk avoidance is the most appropriate strategy.
* Clear Communication: Ensure all stakeholders are informed about the decision and the reasons behind it.
* CRISC Review Manual: Provides detailed explanations of different risk treatment strategies, including avoidance.
* ISACA Guidelines: Highlight the importance of choosing the appropriate risk treatment strategy based on the specific risk scenario.
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