What is the objective of a risk register review?

• A. Update risk statuses, recalculate likelihood/impact, reassign owners, and adjust mitigation plans.
• B. Draft new corporate strategy.
• C. Conduct external audits.
• D. Prepare annual financial statements.

Answer: (A)

Regular risk register reviews keep the risk picture current. They ensure risk statuses are up to date, the assessed likelihood and impact reflect new information or changes in controls, ownership is assigned to the right person, and mitigation actions are adjusted to address remaining risk. This makes the risk register a living tool that supports accountability and informed decision-making within the organization.

Drafting new corporate strategy, external audits, and preparing annual financial statements are different activities—strategy development, independent assurance, and financial reporting—not the purpose of a risk register review.