What should be done when controls are identified as ineffective?

When controls are identified as ineffective, it is essential to evaluate and adjust them as needed to maintain the integrity of risk management efforts. This process involves assessing why the controls aren’t working as intended and determining what modifications can improve their effectiveness. Adjustments may include redesigning the control measures, introducing new controls, or reallocating resources to address gaps in the current strategy.

Leaving controls unchanged could lead to further vulnerability and increase the likelihood of risks manifesting into real problems. Merely documenting the issues without taking action fails to mitigate potential risks and may leave the organization exposed to preventable incidents. Informing leadership without taking further action means that while awareness is raised, it does not lead to any constructive change in risk management practices.

In summary, continuous improvement in risk management practices requires proactive evaluation and adaptation of controls, making it crucial to adjust ineffective controls to enhance overall effectiveness in managing risks.