What action should be taken in the event of key mismanagement?

In the event of key mismanagement, it is essential to follow incident response procedures. This approach is correct because incident response procedures are designed to provide a structured method for identifying, managing, and resolving incidents like key mismanagement. These procedures typically include steps for assessing the severity of the incident, containing any potential damage, notifying appropriate personnel, and documenting the incident for future reference.

By adhering to established incident response protocols, the organization ensures that all aspects of the mismanagement are appropriately handled, which is crucial in maintaining the integrity and security of sensitive information. Following these procedures not only helps mitigate risks but also ensures compliance with regulatory and organizational requirements, thereby protecting both the organization and its end-users.

While informing end-users about potential risks is important, it should be done as part of the established procedures rather than as a standalone action. Ignoring the incident can lead to further complications and increased risks. Changing the encryption method might address a symptom of the problem but does not directly address the mismanagement issue itself or incorporate appropriate incident handling practices, which are vital in responding effectively to security incidents.