The best course of action to determine the root cause of the high number of policy exceptions approved by senior management is to interview the control owner. The control owner is the person who has the authority and responsibility for designing, implementing, and monitoring the controls that enforce the policy. The control owner can provide insight into the reasons, circumstances, and impacts of the policy exceptions, and the effectiveness and efficiency of the controls. The control owner can also suggest possible improvements or alternatives to the policy or the controls. The other options are not as useful as interviewing the control owner, as they are related to the review, analysis, or testing of the policy or the controls, not the investigation or understanding of the policy exceptions. References = Risk and Information Systems Control Study Manual, Chapter 4: Risk and Control Monitoring and Reporting, Section 4.4: Key Control Indicators, page 211.

* A risk assessment is a process of measuring and comparing the likelihood and impact of various risk scenarios, and prioritizing them based on their significance and urgency. A risk assessment can help the organization to understand and document the risks that may affect its objectives and operations, and to support the decision making and planning for the risk management.
* Performing a risk assessment would be the most helpful to understand the impact of a new technology system on an organization's current risk profile, because it can help the organization to address the following questions:
* What are the potential benefits and challenges of implementing the new technology system, and how do they align with the organization's objectives and needs?
* What are the existing or emerging risks that may affect the new technology system, and how do they relate to the organization's current risk profile?
* How likely and severe are the risks that may affect the new technology system, and what are the possible consequences or impacts for the organization and its stakeholders?
* How can the risks that may affect the new technology system be mitigated or prevented, and what are the available or feasible options or solutions?
* Performing a risk assessment can help the organization to understand the impact of the new technology system on its current risk profile by providing the following benefits:
* It can enable the comparison and evaluation of the current and desired state and performance of the organization's risk management function, and to identify and quantify the gaps or opportunities for improvement.
* It can provide useful references and benchmarks for the alignment and integration of the new technology system with the organization's risk management function, and for the compliance with the organization's risk policies and standards.
* It can support the implementation and monitoring of the new technology system, and for the allocation and optimization of the resources, time, and budget for the new technology system.
* The other options are not the most helpful to understand the impact of a new technology system on an organization's current risk profile, because they do not provide the same level of detail and insight that performing a risk assessment provides, and they may not be specific or applicable to the organization's objectives and needs.
* Hiring consultants specializing in the new technology means engaging or contracting external experts or professionals that have the skills and knowledge on the new technology system, and that can provide advice or guidance on the implementation and management of the new technology system. Hiring consultants specializing in the new technology can help the organization to enhance its competence and performance on the new technology system, but it is not the most helpful, because it does not measure and compare the likelihood and impact of the risks that may affect the new technology system, and it may not be relevant or appropriate for the organization's current risk profile.
* Reviewing existing risk mitigation controls means examining and evaluating the adequacy and effectiveness of the controls or countermeasures that are intended to reduce or eliminate the risks that may affect the organization's objectives and operations. Reviewing existing risk mitigation controls can help the organization to improve and optimize its risk management function, but it is not the most helpful, because it does not identify and prioritize the risks that may affect the new technology system, and it may not cover all the relevant or significant risks that may affect the new technology system.
* Conducting a gap analysis means comparing and contrasting the current and desired state and performance of the organization's objectives and operations, and identifying and quantifying the gaps or differences that need to be addressed or corrected. Conducting a gap analysis can help the organization to identify and document its improvement needs and opportunities, but it is not the most helpful, because it does not measure and compare the likelihood and impact of the risks that may affect the new technology system, and it may not be aligned or integrated with the organization's current risk profile. References =
* ISACA, CRISC Review Manual, 7th Edition, 2022, pp. 19-20, 23-24, 27-28, 31-32, 40-41, 47-48, 54-
55, 58-59, 62-63
* ISACA, CRISC Review Questions, Answers & Explanations Database, 2022, QID 208
* CRISC Practice Quiz and Exam Prep

Organizational risk culture is the term describing the values, beliefs, knowledge, attitudes and understanding about risk shared by a group of people with a common purpose. Organizational risk culture influences how the organization identifies, assesses, and manages risks, and how it aligns its risk appetite and tolerance with its objectives and strategies1.
The best indication of a mature organizational risk culture is that risk owners understand and accept accountability for risk, because it means that the organization:
* Clearly defines and assigns the roles and responsibilities of the risk owners, who are the individuals or groups who have the authority and ability to manage the risks within their scope or domain
* Empowers and supports the risk owners to perform their risk management duties, such as identifying, assessing, responding, monitoring, and reporting the risks
* Holds the risk owners accountable for the outcomes and consequences of the risks, and evaluates their performance and compliance with the risk policies, standards, and procedures
* Encourages and rewards the risk owners for demonstrating risk awareness and competence, and for contributing to the risk management improvement and learning23 The other options are not the best indications of a mature organizational risk culture, but rather some of the elements or aspects of it. Corporate risk appetite is the amount and type of risk that the organization is willing to accept in order to achieve its objectives. Corporate risk appetite is communicated to staff members to guide their risk decision making and behavior, and to ensure the consistency and alignment of the risk taking and tolerance across the organization. Risk policy is the document that establishes the principles, framework, and process for managing the risks within the organization. Risk policy is published and acknowledged by employees to ensure their awareness and compliance with the risk management expectations and requirements. Management is the group of individuals who have the authority and responsibility to direct and control the organization's activities and resources. Management encourages the reporting of policy breaches to ensure the transparency and accountability of the risk management performance and outcomes, and to identify and address the risk management issues and gaps4. References =
* Risk culture - Institute of Risk Management
* Risk Owner - ISACA
* Taking control of organizational risk culture | McKinsey
* [CRISC Review Manual, 7th Edition]

From a risk management perspective, the primary benefit of using automated system configuration validation tools is that they reduce the inherent risk, which is the risk that exists before any controls are applied.
Automated system configuration validation tools can help to ensure that the system settings are consistent, compliant, and secure, and that they match the predefined standards and policies. This can reduce the likelihood and impact of errors, misconfigurations, vulnerabilities, or deviations that may compromise the system's functionality, performance, or integrity. The other options are not the primary benefits of using automated system configuration validation tools, although they may be secondary benefits or outcomes of doing so. Residual risk is the risk that remains after the controls are applied, and it may not be directly affected by the automated system configuration validation tools. Staff costs and operational costs are related to the efficiency and economy of the system configuration process, but they are not the main risk management objectives. References = Risk and Information Systems Control Study Manual, Chapter 4: Risk Response, page 150.

A review of a third-party vendor is a process that involves examining and evaluating the performance, quality, and compliance of the vendor that provides a product or service to the organization1. A review of a third-party vendor can help to identify and address the risks and issues that may arise from the vendor relationship, such as data breaches, service disruptions, contract violations, or reputation damage2. Following a review of a third-party vendor, it is most important for an organization to ensure that the results of the review are accurately reported to management, as this will enable the management to make informed and timely decisions and actions based on the findings and recommendations of the review. Accurate reporting of the results of the review will also help to establish and maintain the trust and transparency between the organization and the vendor, and to demonstrate the accountability and responsibility of the organization for its vendor risk management3. Identified findings are reviewed by the organization, results of the review are validated by internal audit, and identified findings are approved by the vendor are not the most important things to ensure following a review of a third-party vendor, as they do not provide the same level of impact and value as accurate reporting of the results of the review. Identified findings are reviewed by the organization is a process that involves analyzing and interpreting the outcomes and implications of the review of a third-party vendor, and determining the appropriate risk responses and actions to address the findings4.
This is an important step in the vendor risk management process, but it is not the most important thing to ensure following a review of a third-party vendor, as it does not communicate or inform the management or the vendor of the results of the review. Results of the review are validated by internal audit is a process that involves verifying and confirming the accuracy and reliability of the review of a third-party vendor, and providing assurance and advice on the adequacy and effectiveness of the vendor risk management. This is an important step in the vendor risk management process, but it is not the most important thing to ensure following a review of a third-party vendor, as it does not report or share the results of the review with the management or the vendor. Identified findings are approved by the vendor is a process that involves obtaining the consent and agreement of the vendor on the outcomes and recommendations of the review of a third-party vendor, and ensuring their cooperation and compliance with the risk responses and actions. This is an important step in the vendor risk management process, but it is not the most important thing to ensure following a review of a third-party vendor, as it does not report or inform the management of the results of the review. References = 1: The guide to third-party vendor reviews - TerraTrue HQ | TerraTrue2: 4 Tips For Organizations To Evaluate Third-Party Vendors - Forbes Advisor3: Vendor Risk Management: Best Practices for 2023 - Venminder4: [Risk and Information Systems Control Study Manual, Chapter 3: Risk Response, Section 3.1: Risk Response Options, pp. 113-115.] : [IT Risk Resources | ISACA] : Who Is Considered a Third Party or Vendor? - Venminder : [Risk and Information Systems Control Study Manual, Chapter 2: IT Risk Assessment, Section 2.1: Risk Identification, pp. 57-59.] : [Risk and Information Systems Control Study Manual, Chapter 4: Risk and Control Monitoring and Reporting, Section 4.2: Risk Monitoring, pp. 189-191.] :
[Risk and Information Systems Control Study Manual, Chapter 5: Information Systems Control Design and Implementation, Section 5.1: Control Design, pp. 233-235.] : [Risk and Information Systems Control Study Manual, Chapter 5: Information Systems Control Design and Implementation, Section 5.2: Control Implementation, pp. 243-245.] : [Risk and Information Systems Control Study Manual, Chapter 5:
Information Systems Control Design and Implementation, Section 5.3: Control Monitoring and Maintenance, pp. 251-253.]