Open communication of risk reporting is the most important factor for promoting a risk-aware culture, because it fosters trust, transparency, and accountability among all stakeholders. It also enables timely and informed decision-making, feedback, and learning from risk events. Regular testing of risk controls, communication of audit findings, and procedures for security monitoring are all important aspects of risk management, but they do not necessarily create a risk-aware culture, which requires a shared understanding and commitment to risk management across the organization. References = Risk and Information Systems Control Study Manual, Chapter 1, Section 1.2.2, page 1-9.

A risk register is a tool that records and tracks the information about the identified risks, such as the risk description, category, owner, probability, impact, response strategy, status, and action plan. Reviewing the risk register is the best way to help an organization gain insight into its overall risk profile, which is the summary of the nature and level of risk that the organization faces. By reviewing the risk register, the organization can obtain a comprehensive and holistic view of the sources, causes, and consequences of the risks, their likelihood and impact, their interrelationships and dependencies, and their alignment with the risk appetite and tolerance. The risk register can also help the organization to prioritize the risks, allocate the resources, select the risk responses, monitor the risk performance, and evaluate the risk outcomes. References = CRISC Review Manual, 7th Edition, page 99.

Explanation/Reference:
Explanation:
The risk response process is triggered when a risk exceeds the enterprise's risk tolerance level. The acceptable variation relative to the achievement of an objective is termed as risk tolerance. In other words, risk tolerance is the acceptable deviation from the level set by the risk appetite and business objectives.
Risk tolerance is defined at the enterprise level by the board and clearly communicated to all stakeholders.
A process should be in place to review and approve any exceptions to such standards.
Incorrect Answers:
A, C: Risk appetite level is not relevant in triggering of risk response process. Risk appetite is the amount of risk a company or other entity is willing to accept in pursuit of its mission. This is the responsibility of the board to decide risk appetite of an enterprise. When considering the risk appetite levels for the enterprise, the following two major factors should be taken into account:
The enterprise's objective capacity to absorb loss, e.g., financial loss, reputation damage, etc.

The culture towards risk taking-cautious or aggressive. In other words, the amount of loss the

enterprise wants to accept in pursue of its objective fulfillment.
D: Risk response process is triggered when the risk level increases the risk tolerance level of the enterprise, and not when it just equates the risk tolerance level.