Microsoft Baseline Security Analyzer (MBSA) checks for available updates to the operating system, Microsoft Data Access Components (MDAC), MSXML (Microsoft XML Parser), .NET Framework, and SQL Server. MBSA also scans a computer for insecure configuration settings. When MBSA checks for Windows service packs and patches, it includes in its scan Windows components, such as Internet Information Services (IIS) and COM+.
If you ever need to move MBSA from one server to another you may notice, once you have installed MBSA on your destination server that your existing security scan reports are no longer available and the option is greyed out: