6.1.2 Information security risk assessment The organization shall define and apply an information security risk assessment process that:
a) establishes and maintains information security risk criteria that include:
1) the risk acceptance criteria; and
2) criteria for performing information security risk assessments

b) ensures that repeated information security risk assessments produce consistent, valid and comparable results;

c) identifies the information security risks:
1) apply the information security risk assessment process to identify risks associated with the loss of confidentiality, integrity and availability for information within the scope of the information security management system; and
2) identify the risk owners;

d) analyses the information security risks:
1) assess the potential consequences that would result if the risks identified in 6.1.2 c) 1) were to materialize;
2) assess the realistic likelihood of the occurrence of the risks identified in 6.1.2 c) 1); and
3) determine the levels of risk;

e) evaluates the information security risks:

1) compare the results of risk analysis with the risk criteria established in 6.1.2 a); and
2) prioritize the analysed risks for risk treatmen"

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6.1.3 Information security risk treatment The organization shall define and apply an information security risk treatment process to:
a) select appropriate information security risk treatment options, taking account of the risk assessment results;

b) determine all controls that are necessary to implement the information security risk treatment option(s) chosen;

//NOTE: Organizations can design controls as required, or identify them from any source.

c) compare the controls determined in 6.1.3 b) above with those in AnnexA and verify that no necessary controls have been omitted;

// NOTE 1: AnnexA contains a comprehensive list of control objectives and controls. Users of this International Standard are directed to Annex A to ensure that no necessary controls are overlooked.

// NOTE 2: Control objectives are implicitly included in the controls chosen. The control objectives and controls listed in Annex A are not exhaustive and additional control objectives and controls may be needed."

d) produce a Statement of Applicability that contains the necessary controls (see 6.1.3 b) and c)) and justification for inclusions, whether they are implemented or not, and the justification for exclusions of controls from Annex A;

e) formulate an information security risk treatment plan; and f) obtain risk owners’ approval of the information security risk treatment plan and acceptance of the residual information security risks. The organization shall retain documented information about the information security risk treatment process.

NOTE: The information security risk assessment and treatment process in this International Standard aligns with the principles and generic guidelines provided in ISO 31000[5]."

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All computer systems are made up of digital assets. When digital assets are compromised, they can affect the ability of a system or network to perform its intended function and compromise information security. Loss of Confidentiality, integrity, availability of the data system or the information contained therein would result in serious consequences to the organization.

However, when it comes to estimating the likelihood of risks can be difficult. The reasons for this is:
1. Rapid evolution of information security threats, including the advent of new adversaries and the rapid development of new forms of cyberattacks;
2. Rapid sharing of information about recently found vulnerabilities in any hardware, firmware, operating systems etc;
3. Lag time between identifying a security vulnerability and the time it takes to develop, test and implement patches or remediations on varies vulnerabilities.

For an attack to have a negative impact on information security there will be consequences. Consequences may involve the loss of CIA triad in information security aspects:
• Confidentiality. This occurs when an attack results granting access to the sensitive information, and could end up in disclosure or misuse of such sensitive information.
• Integrity. This occurs when an attack enables modification of information and affecting its reliability. This includes information used by people, information systems, or content management systems etc.
• Availability. This occurs when an attack is able to prevent authorized individuals, customers from accessing to the services provided in a timely and uninterrupted manner.