What is the role of independent investigations during a crisis event?

• A. Independent investigations are essential to establish facts and guide remediation.
• B. They are optional and can be skipped to reduce costs.
• C. They should be performed only if legally required.
• D. They should be conducted only by external parties at a high fee.

Answer: (C)

Independent investigations during a crisis are about obtaining credible, objective facts and turning those findings into actionable steps to fix problems. They help uncover what happened, why it happened (root causes and failures in controls), and what must be changed to prevent recurrence, while also supporting transparency and trust with stakeholders. Independence matters because it reduces bias and signals that the assessment isn’t influenced by those responsible for the crisis, which strengthens credibility with regulators, customers, employees, and investors. While legal requirements may prompt an investigation, the best practice is to use an independent, properly scoped process to guide remediation and improve future risk management, not just to meet a mandate. Skipping investigations or limiting them to what’s legally required undermines learning and accountability, and overly expensive external-only routes aren’t necessary if independence and proper oversight can be maintained.