You are an experienced ISMS audit team leader providing instruction to a class of auditors...

The correct sequence of activities for the management of information security risk in accordance with the requirements of ISO/IEC 27001:2022 is as follows:

1st: Create and maintain information security risk criteria 2nd: Identify the risks that need to be considered when planning for the information security management system 3rd: Assess the potential consequences that would arise if the risk were to materialise 4th: Select appropriate risk treatment options 5th: Carry out information security risk assessments at planned intervals 6th: Consider the results of risk assessment and the status of the risk treatment plan at management review

This sequence is based on the information security risk management process described in ISO/IEC 27001:2022 clause 6.1, which includes the following activities:

establishing and maintaining information security risk criteria;

ensuring that repeated information security risk assessments produce consistent, valid and comparable results;

identifying the information security risks;

analyzing the information security risks;

evaluating the information security risks;

treating the information security risks;

accepting the information security risks and the residual information security risks;

communicating and consulting with stakeholders throughout the process;

monitoring and reviewing the information security risks and the risk treatment plan.

References:

ISO/IEC 27001:2022, clause 6.1

[PECB Candidate Handbook ISO/IEC 27001 Lead Auditor], pages 14-15

ISO 27001 Risk Management in Plain English