ISO 23081-1:2017 Information and documentation -- Managing metadata for records Quiz 08 24Mar25 - Practice Quiz

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OmniCorp, a multinational corporation, is implementing a global records management system, adhering to ISO 23081-1:2017. The legal team raises concerns about varying data privacy regulations across jurisdictions regarding Personally Identifiable Information (PII) within metadata. OmniCorp\'s Chief Information Officer (CIO), Elias Vance, tasks the records management team, led by Anya Sharma, to develop a risk treatment plan. Anya identifies potential risks including fines for non-compliance with GDPR in Europe, CCPA in California, and similar regulations in other regions. The risks are assessed as having a high likelihood and significant impact on OmniCorp\'s global operations. Anya needs to determine the most appropriate risk treatment strategy that aligns with ISO 31000 principles and ensures compliance while maintaining the functionality of the records management system. Considering the complexities of global data privacy laws and the need to balance compliance with operational efficiency, which of the following risk treatment strategies is MOST suitable for OmniCorp?

Implement a combination of risk reduction strategies, such as anonymization and access controls, and risk sharing strategies, such as engaging with legal counsel in each jurisdiction to ensure compliance.

Adopt a risk avoidance strategy by completely eliminating the use of PII in metadata across all jurisdictions to ensure full compliance with all data privacy regulations.

Implement a risk retention strategy, accepting the potential legal and financial consequences of non-compliance, as the cost of full compliance is deemed too high. Purchase a comprehensive insurance policy to cover potential fines and legal fees.

Rely solely on a risk sharing strategy by purchasing a comprehensive insurance policy that covers potential fines and legal fees associated with data privacy breaches in all jurisdictions, without implementing any additional control measures.

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