Difference between a Risk indicator and Control indicator?

[David347]

We are doing a control based risk method. And I was wondering what the key differences are between Control indicators and Risk indicators?

[Ahmed Drar]

Hi @David347 

in terms functionality they are  the same thing ' monitor control/risk and collect evidence of performance' . the question is what you would like to monitor? Risk? control ? both?

I hope this helps

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[David347]

We have both in need. But as the risk is based around the controls, then essentially they are the same thing.

I would say the only difference is that some have enterprise controls, others are more local controls. 

[Ahmed Drar]

If you wish to collect proof of a risk based control's success or failure while in the monitor state, I would recommend using a control indicator, but this is just my opinion.

[Community Alums]

Hi @David347 ,

Indicators collect data to monitor controls and risks, and collect audit evidence. Indicators monitor a single control or risk.

Both the terminologies are same it's just that one monitors Control and the other monitors risks.