Which of the following should be the PRIMARY objective of a risk awareness training program?
A.
To enable risk-based decision making
B.
To promote awareness of the risk governance function
C.
To clarify fundamental risk management principles
D.
To ensure sufficient resources are available
The Answer Is:
A
This question includes an explanation.
Explanation:
The primary objective of a risk awareness training program is to enable risk-based decision making, which means making decisions that take into account the potential risks and opportunities associated with each option. A risk awareness training program should aim to develop a common understanding of risk across multiple functions and business units, achieve a better understanding of risk for competitive advantage, and build safeguards against earnings-related surprises1. A risk awareness training program should also cover the basics of risk management, such as the risk management process, the roles and responsibilities of different stakeholders, the risk appetite and tolerance of the organization, and the tools and techniques for identifying, analyzing, evaluating, and treating risks234. A risk awareness training program should also include practical examples and case studies to illustrate how risk management can beapplied in different scenarios and contexts5. References = Risk and Information Systems Control Study Manual, Chapter 1: IT Risk Identification, Section 1.11: Risk Awareness, pp. 34-354
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