Instant Access OCEG.GRCP.v2026-07-19.q191 Actual Practice Test Engine for Free (Page 27)

Question 126

What is the purpose of assigning accountability for external factors within an organization?

A.To eliminate the need for hiring consultants or law firms to monitor external factors
B.To know who will be using technology to track external events so proper access can be assigned
C.To ensure that individuals with authority and resources are responsible for successfully analyzing, influencing, and sensing external factors that may impact the organization
D.To reduce the workload of the organization's top management and having staff people track external factors relevant to their own roles

Question 127

In the IACM, what is the role of Governance Actions & Controls?

A.To assist the governing authority in constraining and constraining the organization
B.To develop and implement innovative business strategies
C.To engage with stakeholders and address their concerns
D.To monitor and evaluate the performance of suppliers and vendors

Question 128

What are some key practices involved in managing policies within an organization?

A.Having internal audit design standard policy templates to make assessment of their effectiveness easier
B.Delegating policy management to each unit of the organization so there is a sense of accountability established
C.Implementing, communicating, enforcing, and auditing policies and related procedures to ensure that they operate as intended and remain relevant
D.Establishing policy management technology that has pre-populated templates so the organization's policies meet industry standards

Correct Answer: C

Effectivepolicy managementensures that organizational policies are relevant, aligned with objectives, and consistently implemented across all levels. The goal is to ensure policies guide actions, mitigate risks, ensure compliance, and support ethical behavior.
Key Practices in Policy Management:
* Implementation:
* Policies must be properly implemented by integrating them into the organization's processes, systems, and day-to-day operations.
* Example: Rolling out a data protection policy that defines data handling procedures organization- wide.
* Communication:
* Policies should be clearly communicated to employees and stakeholders so they understand their roles and responsibilities.
* Example: Conducting training sessions on a new code of conduct to ensure awareness.
* Enforcement:
* Policies must be actively enforced to ensure compliance, with consequences for violations.
* Example: Applying disciplinary actions for breaches of an anti-bribery policy.
* Auditing and Monitoring:
* Policies must be regularly reviewed and audited to ensure they remain effective, up-to-date, and aligned with legal and regulatory requirements.
* Example: Annual audits of cybersecurity policies to address evolving threats.
Why Option C is Correct:
Policy management involvesimplementing, communicating, enforcing, and auditing policies, ensuring they are effective, relevant, and adhered to throughout the organization.
Why the Other Options Are Incorrect:
* A: Internal audit plays a role in assessing policy compliance but does not design standard templates as its primary responsibility.
* B: Delegating policy management to individual units may cause inconsistencies and lack of alignment with organizational goals. Centralized oversight ensures coherence.
* D: Policy management technology can be a helpful tool but cannot replace the broader practices of implementation, communication, enforcement, and auditing.
References and Resources:
* ISO 37301:2021- Compliance Management Systems, which discusses policy management practices.
* COSO ERM Framework- Highlights the role of policies in governance and risk management.
* NIST Cybersecurity Framework (CSF)- Stresses regular review and communication of security- related policies.

Question 129

Which statement is FALSE?

A.The organization should have an education plan for each target population indicating what they should know about the GRC capability and their responsibilities for GRC activities.
B.The organization should conduct a needs assessment to determine the training that will address high-risk situations and develop a training plan for each job or job family.
C.Regardless of role, everyone in the organization should receive the same curriculum and the same education activities to ensure consistent understanding.
D.The organization should identify legally mandated education, including who must be educated, the content required, the time required, and methods that may be used for each required course.

Question 130

What is the purpose of reviewing information from monitoring and assurance?

A.To identify opportunities for improvement
B.To assess the financial stability of the organization
C.To determine the effectiveness of strategies
D.To evaluate employee performance

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