Explanation/Reference:
Explanation:
Exploit response is one of the strategies to negate risks or threats that appear in a project. This strategy may be selected for risks with positive impacts where the organization wishes to ensure that the opportunity is realized. Exploiting a risk event provides opportunities for positive impact on a project.
Assigning more talented resources to the project to reduce the time to completion is an example of exploit response.
Incorrect Answers:
A: The enhance strategy closely watches the probability or impact of the risk event to assure that the organization realizes the benefits. The primary point of this strategy is to attempt to increase the probability and/or impact of positive C: Risk acceptance means that no action is taken relative to a particular risk; loss is accepted if it occurs.
D: The share strategy is similar as transfer because in this a portion of the risk is shared with an external organization or another internal entity.

* A risk register is a document that records and tracks the information and status of the identified risks and their responses. It includes the risk description, category, source, cause, impact, probability, priority, response, owner, action plan, status, etc.
* A risk profile is a summary or representation of the organization's exposure or level of risk, based on the results of the risk assessment and evaluation. A risk profile can show the distribution and comparison of the risks based on various criteria, such as likelihood, impact, category, source, etc. A risk profile can also indicate the organization's risk appetite and tolerance, and the gaps or opportunities for improvement.
* The primary benefit of maintaining an up-to-date risk register is that it helps to build a risk profile for management review, because it provides the data and information that are necessary and relevant for creating and updating the risk profile, and for communicating and reporting the risk profile to the management. Maintaining an up-to-date risk register can help to build a risk profile for management review by providing the following benefits:
* It can ensure that the risk profile reflects the current and accurate state and performance of the organization's risk management function, and that it covers all the relevant and significant risks that may affect the organization's objectives and operations.
* It can provide useful references and benchmarks for the identification, analysis, evaluation, and communication of the risks and their responses, and for the alignment and integration of the risks and their responses with the organization's strategy and culture.
* It can support the decision making and planning for the risk management function, and for the allocation and optimization of the resources, time, and budget for the risk management function.
* The other options are not the primary benefits of maintaining an up-to-date risk register, because they do not address the main purpose and benefit of building a risk profile for management review, which is to summarize and represent the organization's exposure or level of risk, and to communicate and report it to the management.
* Implementing uniform controls for common risk scenarios means applying and enforcing the same or similar controls or countermeasures for the risks that have the same or similar characteristics or features, such as source, cause, impact, etc. Implementing uniform controls for common risk scenarios can help to ensure the consistency and efficiency of the risk management function, but it is not the primary benefit of maintaining an up-to-date risk register, because it does not summarize or represent the organization's exposure or level of risk, and it may not be relevant or appropriate for the organization's objectives and needs.
* Ensuring business unit risk is uniformly distributed means ensuring that the risks that are associated with the different business units or divisions of the organization are balanced or equalized, and that they do not exceed or fall below the organization's risk appetite and tolerance.
Ensuring business unit risk is uniformly distributed can help to optimize the performance and profitability of the organization, but it is not the primary benefit of maintaining an up-to-date risk register, because it does not summarize or represent the organization's exposure or level of risk, and it may not be feasible or realistic for the organization.
* Quantifying the organization's risk appetite means measuring and expressing the amount and type of risk that the organization is willing and able to accept or take, in pursuit of its objectives and goals. Quantifying the organization's risk appetite can help to establish and communicate the boundaries and expectations for the organization's risk management function, but it is not the primary benefit of maintaining an up-to-date risk register, because it does not summarize or represent the organization's exposure or level of risk, and it may not be consistent or compatible with the organization's strategy and culture. 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 201
* CRISC Practice Quiz and Exam Prep

A noncompliant control is a control that does not meet the requirements or standards of an audit, regulation, or policy. A noncompliant control can expose the organization to risks such as errors, fraud, or breaches.
When a noncompliant control is identified, the service provider and the client should work together to resolve the issue as soon as possible. However, sometimes the resolution may not be feasible or cost-effective, and the client may decide to accept the risk associated with the noncompliant control.
In this case, the service provider's most appropriate action would be to ask the client to document the formal risk acceptance for the provider. This means that the client should acknowledge the existence and consequences of the noncompliant control, and provide a written justification for accepting the risk. The risk acceptance document should also specify the roles and responsibilities of the service provider and the client, and the duration and conditions of the risk acceptance. The risk acceptance document should be signed by the client's senior management and the service provider's management, and kept as part of the audit evidence.
The other options are not appropriate actions for the service provider. Developing a risk remediation plan overriding the client's decision would be disrespectful and unprofessional, as it would ignore the client's authority and preference. Making a note for this item in the next audit explaining the situation would be insufficient and misleading, as it would imply that the issue is still unresolved and that the service provider is responsible for it. Insisting that the remediation occur for the benefit of other customers would be unreasonable and impractical, as it would disregard the client's business needs and constraints, and potentially harm the relationship between the service provider and the client. References =
* Risk Acceptance - Institute of Internal Auditors
* New Guidance on the Evaluation of Non-compliance with the Risk Assessment Standard and its Peer Review Impact - REVISED
* The Impact of Non-compliance: Understanding The Risks And Consequences