Comprehensive and Detailed Explanation (aligned to ISACA CRISC guidance)

The risk register is a living document. CRISC states it should be maintained so that it accurately reflects current risk conditions, including changes in threats, vulnerabilities, impacts, controls, and ownership. Therefore, it is most important to update entries when aspects of the risk scenario change—for example, when a new control is implemented, business processes change, threat activity increases, or the magnitude of impact alters. Waiting until KRI thresholds are reached may delay updating until risk is already elevated. Updating only when internal audit requires it or just before a periodic review undermines real-time visibility and decision-making. Timely updates when the scenario changes support effective monitoring, reporting, and governance, ensuring that management decisions are based on current, not outdated, risk information.