KNOWLEDGE STATEMENTS

The CRISC candidate should be familiar with the task statements relevant to each domain in the CRISC
job practice. The tasks are supported by 41 knowledge statements that delineate each of the areas in which
the risk practitioner must have a good understanding in order to perform the tasks. Many knowledge
statements support tasks that cross domains.

The CRISC candidate should have knowledge of:

1. Laws, regulations, standards and compliance requirements
2. Industry trends and emerging technologies
3. Enterprise systems architecture (e.g., platforms, networks, applications, databases and operating
systems)
4. Business goals and objectives
5. Contractual requirements with customers and third-party service providers
6. Threats and vulnerabilities related to:
6.1 Business processes and initiatives
6.2 Third-party management
6.3 Data management
6.4 Hardware, software and appliances
6.5 The system development life cycle (SDLC)
6.6 Project and program management
6.7 Business continuity and disaster recovery management (DRM)
6.8 Management of IT operations
6.9 Emerging technologies
7. Methods to identify risk
8. Risk scenario development tools and techniques
9. Risk identification and classification standards, and frameworks
10. Risk events/incident concepts (e.g., contributing conditions, lessons learned, loss result)
11. Elements of a risk register
12. Risk appetite and tolerance
13. Risk analysis methodologies (quantitative and qualitative)
14. Organizational structures
15. Organizational culture, ethics and behavior
16. Organizational assets (e.g., people, technology, data, trademarks, intellectual property) and business
processes, including enterprise risk management (ERM)
17. Organizational policies and standards
18. Business process review tools and techniques
19. Analysis techniques (e.g., root cause, gap, cost-benefit, return on investment [ROI])
20. Capability assessment models and improvement techniques and strategies
21. Data analysis, validation and aggregation techniques (e.g., trend analysis, modeling)
22. Data collection and extraction tools and techniques
23. Principles of risk and control ownership
24. Characteristics of inherent and residual risk
25. Exception management practices
26. Risk assessment standards, frameworks and techniques
27. Risk response options (i.e., accept, mitigate, avoid, transfer) and criteria for selection
28. Information security concepts and principles, including confidentiality, integrity and availability of
information
29. Systems control design and implementation, including testing methodologies and practices
30. The impact of emerging technologies on design and implementation of controls
31. Requirements, principles, and practices for educating and training on risk and control activities
32. Key risk indicators (KRIs)
33. Risk monitoring standards and frameworks
34. Risk monitoring tools and techniques
35. Risk reporting tools and techniques
36. IT risk management best practices
37. Key performance indicator (KPIs)
38. Control types, standards, and frameworks
39. Control monitoring and reporting tools and techniques
40. Control assessment types (e.g., self-assessments, audits, vulnerability assessments, penetration tests,
third-party assurance)
41. Control activities, objectives, practices and metrics related to:
41.1 Business processes
41.2 Information security, including technology certification and accreditation practices
41.3 Third-party management, including service delivery
41.4 Data management
41.5 The system development life cycle (SDLC)
 41.6 Project and program management
41.7 Business continuity and disaster recovery management (DRM)
41.8 IT operations management
41.9 The information systems architecture (e.g., platforms, networks, applications, databases and
operating systems)

Chapter 1: IT Risk Identification

DOMAIN DEFINITION
Identify the universe of IT risk to contribute to the execution of the IT risk management strategy in support of
business objectives and in alignment with the enterprise risk management (ERM) strategy.

LEARNING OBJECTIVES
The objective of this domain is to ensure that the CRISC candidate has the knowledge necessary to:
• Identify relevant standards, frameworks and practices
• Apply risk identification techniques
• Distinguish between threats and vulnerabilities
• Identify relevant stakeholders
• Discuss risk scenario development tools and techniques
• Explain the meaning of key risk management concepts, including risk appetite and risk tolerance
• Describe the key elements of a risk register
• Contribute to the creation of a risk awareness program

CRISC EXAM REFERENCE

This domain represents 27 percent of the CRISC exam (approximately 41 questions).

TASK AND NOWLEDGE STATEMENTS

TASKS
There are seven tasks within this domain that a CRISC candidate must know how to perform. These relate to
IT risk identification.

T1.1 Collect and review information, including existing documentation, regarding the organization’s internal and
external business and IT environments to identify potential impacts of IT risk to the organization’s business
objectives and operations.
T1.2 Identify potential threats and vulnerabilities to the organization’s people, processes and technology to enable IT
risk analysis.
T1.3 Develop a comprehensive set of IT risk scenarios based on available information to determine the potential
impact to business objectives and operations.
T1.4 Identify key stakeholders for IT risk scenarios to help establish accountability.
T1.5 Establish an IT risk register to help ensure that identified IT risk scenarios are accounted for and
incorporated into the enterprisewide risk profile.
T1.6 Identify risk appetite and tolerance defined by senior leadership and key stakeholders to ensure alignment
with business objectives.
T1.7 Collaborate in the development of a risk awareness program, and conduct training to ensure that stakeholders
understand risk and to promote a risk-aware culture.
Chapter 2: IT Risk Assessment
LEARNING OBJECTIVES
The objective of this domain is to ensure that the CRISC candidate has the knowledge necessary to:
• Identify and apply risk assessment techniques
• Analyze risk scenarios
• Identify current state of controls
• Assess gaps between current and desired states of the IT risk environment
• Communicate IT risk assessment results to relevant stakeholders.

CRISC EXAM REFERENCE

This domain represents 28 percent of the CRISC exam (approximately 42 questions).

TASK AND KNOWLEDGE STATEMENTS

TASKS
There are six tasks within this domain that a CRISC candidate must know how to perform. These relate to the
IT risk assessment process.

T2.1 Analyze risk scenarios based on organizational criteria (e.g., organizational structure, policies, standards,
technology, architecture, controls) to determine the likelihood and impact of an identified risk.
T2.2 Identify the current state of existing controls and evaluate their effectiveness for IT risk mitigation.
T2.3 Review the results of risk and control analysis to assess any gaps between current and desired states of the IT
risk environment.
T2.4 Ensure that risk ownership is assigned at the appropriate level to establish clear lines of accountability.
T2.5 Communicate the results of risk assessments to senior management and appropriate stakeholders to enable
risk-based decision making.
T2.6 Update the risk register with the results of the risk assessment.

Chapter 3: Risk Response and Mitigation

DOMAIN DEFINITION
Determine risk response options and evaluate their efficiency and effectiveness to manage risk in alignment
with business objectives.

LEARNING OBJECTIVES
The objective of this domain is to ensure that the CRISC candidate has the knowledge necessary to:
• List the different risk response options
• Define various parameters for risk response selection
• Explain how residual risk relates to inherent risk, risk appetite and risk tolerance
• Discuss the need for performing a cost-benefit analysis when determining a risk response
• Develop a risk action plan
• Explain the principles of risk ownership
• Leverage an understanding of the system development life cycle (SDLC) process to implement IS
controls efficiently and effectively
• Understand the need for control maintenance

TASK AND KNOWLEDGE STATEMENTS

 TASKS
There are seven tasks within this domain that a CRISC candidate must know how to perform. These relate to
IT risk identification.

T3.1 Consult with risk owners to select and align recommended risk responses with business objectives and enable
informed risk decisions.
T3.2 Consult with, or assist, risk owners on the development of risk action plans to ensure that plans include key
elements (e.g., response, cost, target date).
T3.3 Consult on the design and implementation or adjustment of mitigating controls to ensure that the risk is
managed to an acceptable level.
T3.4 Ensure that control ownership is assigned in order to establish clear lines of accountability.
T3.5 Assist control owners in developing control procedures and documentation to enable efficient and effective
control execution.
T3.6 Update the risk register to reflect changes in risk and management’s risk response.
T3.7 Validate that risk responses have been executed according to the risk action plans.

Chapter 4: Risk and Control Monitoring and Reporting

DOMAIN DEFINITION
Continuously monitor and report on IT risk and controls to relevant stakeholders to ensure the continued
efficiency and effectiveness of the IT risk management strategy and its alignment to business objectives.

LEARNING OBJECTIVES
The objective of this domain is to ensure that the CRISC candidate has the knowledge necessary to:
• Differentiate between key risk indicators (KRIs) and key performance indicators (KPIs)
• Describe data extraction, aggregation and analysis tools and techniques
• Compare different monitoring tools and techniques
• Describe various testing and assessment tools and techniques

CRISC EXAM REFERENCE

This domain represents 22 percent of the CRISC exam (approximately 33 questions).

TASK AND KNOWLEDGE STATEMENTS

TASKS
There are seven tasks within this domain that a CRISC candidate must know how to perform. These relate to
IT risk identification.

T4.1 Define and establish key risk indicators (KRIs) and thresholds based on available data, to enable monitoring of
changes in risk.
T4.2 Monitor and analyze key risk indicators (KRIs) to identify changes or trends in the IT risk profile.
T4.3 Report on changes or trends related to the IT risk profile to assist management and relevant stakeholders in
decision making.
T4.4 Facilitate the identification of metrics and key performance indicators (KPIs) to enable the measurement of
control performance.
T4.5 Monitor and analyze key performance indicators (KPIs) to identify changes or trends related to the control
environment and determine the efficiency and effectiveness of controls.
T4.6 Review the results of control assessments to determine the effectiveness of the control environment.
T4.7 Report on the performance of, changes to, or trends in the overall risk profile and control environment to
relevant stakeholders to enable decision making.