What aspect of risk management involves regularly monitoring existing controls?

The aspect of risk management that involves regularly monitoring existing controls is risk monitoring. This phase is crucial as it ensures that risk mitigation measures are effectively implemented and functioning as intended. Continuous monitoring helps identify any changes in risk exposure, assesses the performance of controls, and determines if they need adjustments or enhancements to maintain their effectiveness. This process not only involves tracking the performance of existing controls but also ensures that any new risks that may arise are identified and managed promptly. Regular monitoring is essential for maintaining the integrity of a risk management framework over time, adapting to evolving circumstances, and safeguarding the organization against unforeseen threats.