Question

A CRISC-certified risk analyst is asked to assess the risk of a new vendor management platform. During the assessment, the analyst realizes that the vendor selected is owned by a close family member, and the analyst stands to benefit financially if the platform is approved. The analyst believes their assessment can still be objective. According to professional ethics of risk management, what should the analyst do FIRST?

Accepted Answer

Disclose the relationship and potential financial interest to appropriate stakeholders and recuse from the assessment if required

Answer

Proceed with the assessment as planned since the analyst is confident the work will remain objective

Answer

Complete the assessment but add a note in the final report describing the family relationship

Answer

Decline the assignment quietly without explaining the reason to management