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PO9.3 - Event Identification

This topic is intended to enable collaboration and sharing of information to facilitate a better understanding and approach to implementing this COBIT control objective based on the risk, value and guidance provided by its corresponding control practices.

COBIT Control Objective PO9.3 - Event Identification is contained within Process Popup Assess and Manage IT Risks.

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Event Identification

Identify events (an important realistic threat that exploits a significant applicable vulnerability) with a potential negative impact on the goals or operations of the enterprise, including business, regulatory, legal, technology, trading partner, human resources and operational aspects. Determine the nature of the impact and maintain this information. Record and maintain relevant risks in a risk registry.

View value and Risk Drivers  help

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Value Drivers

  • Consistent approach to risk event identification
  • Focus on significant risk events
  Risk Drivers
  • Irrelevant risk events identified and focused on whilst more important events are missed

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  1. Obtain agreement and sign-off from stakeholders of key events and their impacts.
  2. Identify potential events that could negatively affect enterprise goals or operations considering results of former audits, inspections and identified incidents, using checklists, workshops, process flow analysis, or other tools and techniques.
  3. Identify potential negative impacts that are relevant and significant for the enterprise for each of the selected events. Record and maintain the information in the risk registry, using the enterprise risk management framework terminology.
  4. Involve appropriate cross-functional teams in the event and impact identification activity. Depending on the scope of the assessment, these teams may be composed of representatives from the IT, risk management and business functions.
  5. Review all potential events as a whole to ensure completeness and to identify interdependencies that could affect impact and probability.

 

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EuroCACS/ISRM is a multidimensional event featuring audit, security, governance and risk content, and the audit and security programs, tools and the resources you need to be responsive to industry changes.

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Volume 3, 2012
by Steven J. Ross, CISA, CISSP, MBCP
To accelerate investments in security, we security professionals must do a better job of communicating the reality of the threats that our organizations face.
Volume 3, 2012
by Robert Findlay, CISA
Robert Findlay has had a 30-year career in a variety of IT roles, including computer operations, programming, project management, IT audit and emergency project management.
Volume 3, 2012
by Fabrizio Baiardi, Claudio Telmon, CISA, CISSP, and Daniele Sgandurra, Ph.D.
Haruspex is a risk evaluation methodology defined and implemented by the research group on risk management in the Department of Computer Science at the University of Pisa, Italy.
Volume 2, 2012
by Steven J. Ross, CISA, CISSP, MBCP
The Conference Board study addresses the resilience of companies “to bounce back from a disruption” caused by security events, which are defined rather loosely as environmental disasters, terrorism and cyberattacks.
Volume 2, 2012
by John P. Pironti, CISA, CISM, CGEIT, CRISC, CISSP, ISSAP, ISSMP
Risk and security will no longer be something that the organization consciously considers and instead will become integrated in business-as-usual activities.
Volume 2, 2012
by Kerry A. Anderson, CISA, CISM, CRISC, CGEIT, CISSP, ISSMP, ISSAP, CSSLP, CFE
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