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ISACA Certified in Risk and Information Systems Control · Isaca
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D. SWOT analysis. The most helpful tool in identifying new risk exposures due to changes in the business environment is "D. SWOT analysis." SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It is a strategic planning tool that helps organizations assess their current situation by examining internal strengths and weaknesses as well as external opportunities and threats. Through a SWOT analysis, organizations can identify potential risks that arise from changes in the business environment and external factors. While the other options (industry benchmarking, standard operating procedures, control gap analysis) might provide valuable insights into various aspects of the organization's operations, a SWOT analysis is specifically designed to assess the broader business environment and identify potential risks associated with it.
Agree it is D.
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It is a widely used strategic planning tool that helps organizations identify and analyze their internal strengths and weaknesses as well as external opportunities and threats. A SWOT analysis can be particularly useful in identifying new risk exposures that may arise as a result of changes in the business environment. By conducting a SWOT analysis, an organization can identify potential threats or risks arising from changes in the external environment, such as new competition, regulatory changes, or shifts in consumer preferences. Additionally, it can help identify internal weaknesses that could be exploited by external threats or risks. In contrast, a control gap analysis is focused on identifying gaps in existing controls that could lead to a failure to achieve specific objectives. While it can help identify risk exposures related to specific objectives, it may not be as effective in identifying new risk exposures due to changes in the business environment.