Evaluating the effectiveness of controls involves what primary action?

The primary action involved in evaluating the effectiveness of controls is identifying the existing controls that are in place. This step is crucial as it provides a foundational understanding of what measures are currently implemented to manage risks and ensure compliance. By identifying these controls, organizations can assess whether they are adequate and functioning as intended.

Moving beyond simply knowing the controls, organizations can then analyze their capabilities in mitigating risks and protecting assets. This process may lead to recognizing gaps or weaknesses in the existing framework that require attention. Without identifying the controls first, it would be impossible to evaluate their effectiveness properly, as there would be no benchmark against which to measure performance.

In contrast, training staff on new policies, conducting external audits, and gathering employee feedback, while valuable components of a comprehensive risk management and control program, do not directly initiate the evaluation process. These activities often come after the identification of controls or are part of ongoing management and improvement efforts.