IT Governance, Risk Management and Compliance Quiz

Risk Management and Governance

• The coordination of activities to identify, assess, and respond to risk is referred to as Risk Management.
• The area that involves adhering to mandated requirements defined by laws and regulations is referred to as Compliance.
• Governance, Risk Management, and Compliance (GRC) refers to the integrated approach at the highest level.
• Internal Control involves the development and implementation of internal controls to manage and mitigate risk throughout the organization.

Governance and Management

• The main responsibility of Governance within the realm of IT is to provide strategic direction and oversight.
• In most enterprises, the Board of Directors or the CEO is typically responsible for Governance.
• The main responsibility of Management in most enterprises is to implement and execute the strategies set by Governance.

Governance Structure

• The governance structure varies from one organization to another in terms of proper governance.
• The CEO is responsible for implementing Governance in most enterprises.
• No two businesses or groups are the same in terms of governance structure, implying that each organization has its unique governance structure.

Test your knowledge of governance, risk management, and compliance within the realm of IT. This quiz covers topics such as stakeholder needs evaluation, enterprise objective setting, performance monitoring, and compliance in enterprises.