What is the role of key risk indicators (KRIs)?

KRIs are subjective measures that are not based on any specific risk assessments or data so they only provide a high-level assessment of threats

KRIs are indicators that help govern, manage, and provide assurance about risk related to an objective

KRIs are used to evaluate the performance of the risk management and compliance departments

KRIs are only relevant for governmental entities and have no role in commercial enterprises