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3.13 Control Ownership

3.13 Control Ownership


  • Risk register should include the owner of each risk who is accountable for managing that risk. Risk owner should be a senior official who can make decisions for managing the risk.


  • Mapping of each risk to relevant business processes is the best basis for establishing the risk ownership. Risk ownership should be documented in a risk register. A risk register contains the details of each risk like likelihood, potential impact, priority, status of mitigation and risk owner.


  • There should be frequent communication between risk practitioners and risk owners with respect to risk responses and control effectiveness.


  • Risk owners should ensure that residual risk is within the acceptable limit of the organization.


  • Results of continuous monitoring should be communicated to the risk owner as they own the risk and are responsible for appropriate risk response.


Key aspects from CRISC exam perspective


CRISC Questions

Possible Answer 

What is the best basis for establishing risk ownership?

To map risk to relevant business process

Risk ownership should be documented in

Risk Register

Whom should the results of continuous monitoring be best communicated?

Risk Owner



Self-Assessment Questions


Practice Questions - 3.13 Control Ownership

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