What it asks for. The organisation must receive security alerts, advisories and directives from defined external sources on an ongoing basis, generate internal alerts where needed, disseminate them to the right people and implement directives within set time frames or notify that it cannot.
In practice. Doing this well means subscribing to national CSIRT feeds, vendor advisories and threat intelligence relevant to your technology stack, with someone responsible for triaging them and driving action. Auditors expect the list of sources, triage records and evidence that critical advisories led to timely action. In Europe, national CSIRTs and ENISA are typical sources alongside vendors.
Common gaps. Advisories arrive in shared mailboxes that nobody reads, or are not matched to the asset inventory. Action on urgent advisories is rarely tracked to closure.