Ongoing and periodic review activities are designed to evaluate the performance of actions and controls in terms of their effectiveness, efficiency, responsiveness, and resilience.
Purpose of Reviews:
Effectiveness: Ensures objectives are being met.
Efficiency: Confirms optimal use of resources.
Responsiveness: Measures the speed of adaptation to changes or issues.
Resilience: Assesses the ability to recover from disruptions.
Why Other Options Are Incorrect:
A: Reviews complement external audits, not replace them.
B: Cost reduction may be a result but is not the primary purpose.
D: Documentation for legal defenses is a secondary benefit, not the main goal.
[References:, COSO ERM Framework: Highlights the role of reviews in assessing risk management and control performance., OCEG GRC Capability Model: Recommends regular reviews for continuous improvement., , , ]
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