Risk Monitoring and Reporting
Keeping Risk Information Current
Risk management does not end after controls are implemented. Organizations continuously monitor risks, evaluate control effectiveness, and report significant changes to management and the board.
- Track key risk indicators (KRIs).
- Conduct internal audits.
- Review incident reports.
- Monitor regulatory changes.
- Update risk registers regularly.
You cannot manage what you do not continuously monitor.
Summary
Regular monitoring ensures that emerging risks are identified and addressed before they become major problems.