Final answer:
The absence of an information security policy committee is the highest risk given the lack of oversight and comprehensive management approach it suggests for the organization's information security governance.
Step-by-step explanation:
When an IS auditor reviews an organization's information security policy, the highest potential risk among the options provided would be d). the company does not have an information security policy committee. This poses a significant risk because it suggests there may be a lack of oversight and governance for the policy. A dedicated committee is typically responsible for ensuring that the policy evolves with emerging threats, technology changes, and aligns with regulatory requirements and business objectives. In absence of a committee, there may be inconsistent policy enforcement, inadequate response to new threats, and insufficient stakeholder engagement.
Regular updates to the policy are important (a), but the lack of a committee to oversee these updates is a larger risk. While having no revision history (b) is an issue, it's less critical than the lack of governance. Similarly, while the security administrator approving the policy (c) might suggest potential bias or lack of broader perspective, it's not as problematic as the absence of a comprehensive approach to policy management.