Section: Volume C
Explanation
Explanation:
Risk avoidance involves changing the project management plan to eliminate the threat entirely. The project manager may also isolate the project objectives from the risk's impact or change the objective that is in jeopardy. Examples of this include extending the schedule, changing the strategy, or reducing the scope. The most radical avoidance strategy is to shut down the project entirely. Some risks that arise early in the project can be avoided by clarifying requirements, obtaining information, improving communication, or acquiring expertise.
Incorrect Answers:
A: Exploit risk response is used for positive risk or opportunity, not for negative risk.
B: This risk response does require a change request, in some instances, but it's the avoidance risk response and not just a change request.
D: Transference allows the risk to be transferred, not removed from the project, to a third party. Transference usually requires a contractual relationship with the third party.

The risk practitioner's best course of action when an organization has been made aware of a newly discovered critical vulnerability in a regulatory reporting system is to perform an impact assessment, as it involves estimating the potential consequences or damage that the vulnerability may cause to the system and its related business processes, and prioritizing the risk response accordingly. The other options are not the best courses of action, as they may not address the urgency or severity of the vulnerability, or may require the prior knowledge of the impact or risk level, respectively. References = CRISC Review Manual, 7th Edition, page
100.

* The best method to ensure a terminated employee's access to IT systems is revoked upon departure from the organization is to have the human resources (HR) system automatically revoke system access, which is a process that involves integrating the HR system with the IT system, and triggering the removal of access rights for the employee as soon as the termination is recorded in the HR system12.
* This method is the best because it provides the most timely, accurate, and consistent way of revoking access, and reduces the risk of human error, oversight, or delay that may occur in manual or semi-automated processes12.
* This method is also the best because it enhances the security and compliance of the organization, and prevents the terminated employee from accessing or compromising the IT systems or data after departure12.
* The other options are not the best methods, but rather alternative or supplementary methods that may have some limitations or drawbacks. For example:
* Login attempts are reconciled to a list of terminated employees is a method that involves monitoring and verifying the login activities of the IT systems, and comparing them with a list of terminated employees to identify and block any unauthorized access attempts34. However, this method is not the best because it is reactive rather than proactive, and may not prevent the terminated employee from accessing the IT systems before the reconciliation is done34.
* A list of terminated employees is generated for reconciliation against current IT access is a method that involves creating and maintaining a list of terminated employees, and checking it against the current IT access rights to identify and remove any access that is no longer needed34. However, this method is not the best because it is manual and labor-intensive, and may introduce errors or inconsistencies in the list or the access rights34.
* A process to remove employee access during the exit interview is implemented is a method that involves conducting an exit interview with the terminated employee, and revoking the employee's access to the IT systems during or immediately after the interview34. However, this method is not the best because it depends on the availability and cooperation of the terminated employee, and may not cover all the IT systems or access rights that the employee had34. References =
* 1: IT Involvement in Employee Termination, A Checklist3
* 2: Best Practices to Ensure Departing Employees Retain No Access5
* 3: User Termination Best Practices - IT Security - Spiceworks2
* 4: IT Security for Employee Termination - Policies, Checklists, Templates - Endsight1

Enforcing segregation of duties between the vendor master file and invoicing is the best process control to mitigate the risk of an employee issuing fraudulent payments to a vendor. This is because segregation of duties is a key internal control that prevents or detects errors, fraud, or abuse by ensuring that no single person can perform incompatible or conflicting tasks. The vendor master file is a database that contains the information and settings for each vendor, such as name, address, bank account, payment terms, etc. Invoicing is the process of generating and sending bills to the vendors for the goods or services they provide. If the same person can access and modify the vendor master file and issue invoices, he or she could create fictitious vendors, alter vendor information, or generate false or duplicate invoices, and then divert the payments to his or her own account. By segregating these duties, the organization can reduce the opportunity and likelihood of such fraudulent activities. According to the CRISC Review Manual 2022, segregation of duties is one of the key IT control objectives and practices1. According to the web search results, segregation of duties between the vendor master file and invoicing is a common and recommended control to prevent vendor fraud