Key control indicators (KCIs) are metrics that measure how well a specific control is performing in reducing the causes, consequences, or likelihood of a risk1. KCIs are used to evaluate the control operating effectiveness, which is the degree to which a control achieves its intended objectives and mitigates the risk2.
The primary reason to use KCIs to evaluate control operating effectiveness is to monitor the achievement of set objectives. This means that KCIs help to:
Track and report the progress and performance of the control against the predefined targets, standards, or benchmarks
Identify and address any gaps, deviations, or issues in the control operation or outcome
Provide feedback and assurance to the stakeholders and regulators on the adequacy and reliability of the control
Support the continuous improvement and optimization of the control3
References = Key Control Indicator (KCI) - CIO Wiki, Evaluating and Improving Internal Control in Organizations - IFAC, A Methodical Approach to Key Control Indicators
