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?

[David347]

What is the difference between a Risk Statement and Risk Indicator?

[Community Alums]

Hi @David347 ,

Risk indicator is used to identify the possibility of a future adverse impact on your organization. Indicators are an early warning system, and they enable you to take preventative action on the risks.

Generally, indicators are automatically created using the normal process of indicator templates. You can also manually create new indicators. You can also create an indicator by using an indicator template. When you relate an indicator template to a risk statement, the risk indicators are automatically generated.

Create risk statements to group risks into manageable categories,

When you create a risk statement, you can associate entity types or add additional entities to generate risks.

Note: When any of the following risk statement fields changes: Name, Description, Reference, Category, Type, Classification, and Attestation, all the associated controls and risks are updated, and their state is set back to Draft. All the associated risk assessments also get canceled.

[Community Alums]

Hi @David347 ,