OCEG GRC Professional Certification Exam GRCP Question # 9 Topic 1 Discussion

Assurance controlsin thePERFORM componentensure that sufficient information is providedto assurance providers when the actions and controls implemented by management and governance may fall short of addressing risks or achieving objectives.

Significance:

Enhancing Oversight: Assurance controls validate whether performance, risk, and compliance objectives are met.

Filling Gaps: Provides additional layers of evaluation where management and governance controls alone may not suffice.

Purpose:

Supports independent assessments, such as audits or evaluations, to ensure the organization's actions align with its objectives.

Why Other Options Are Incorrect:

A: While transparency is important, assurance controls specifically address information sufficiency.

B: Assurance controls extend beyond financial statements.

D: Chain of command pertains to organizational structure, not assurance controls.

References:

COSO ERM Framework: Describes assurance controls as critical for evaluating governance and risk performance.

OCEG GRC Capability Model: Highlights the role of assurance in the PERFORM component.