Question # $5$:

Risk Assessment

Scenario # $5$:

You are leading a team of IT auditors assigned to perform a risk assessment for a multinational consumer electronics

company's newly developed online marketplace. With the platform scheduled for launch in the coming months, the

company seeks to proactively identify and address potential risks. During your evaluation, you identify various threats,

such as cyberattacks, data breaches, and system outages.

Explain how you would apply risk assessment tools and methodologies to prioritize these threats based on their

probability and potential impact on the platform's functionality and reputation. Additionally, detail the steps you would

take to collaborate with stakeholders and design tailored risk mitigation strategies that align with the company's specific

goals and requirements.

Question # $6$ :

Risk Management

Scenario # $6$:

You are conducting a risk assessment for a regional insurance company's IT infrastructure, which relies on legacy

systems essential to its daily operations. The organization is preparing for a digital transformation initiative to modernize

its IT environment and improve operational effectiveness. However, there are concerns about potential risks during the

migration process, such as data loss, service interruptions, and regulatory non$-$compliance.

Explain how you would utilize risk assessment tools and methodologies to evaluate the risks associated with this digital

transformation initiative. Highlight the importance of conducting detailed impact assessments and scenario analyses to

anticipate potential challenges and create contingency plans. Additionally, describe how you would engage with key

stakeholders, including IT teams, business executives, and compliance specialists, to ensure that the risk assessment

process is thorough and aligned with the company's strategic goals and regulatory obligations.