There are two types of refile operations:
Metadata: Affects only the metadata fields eligible for refile. During a metadata refile, these custom fields are aligned with the parent container. Refiling metadata ensures that users can easily retrieve content through searches.
Security: Affects the default security and the list of users/groups with permissions to access the item. During a security refile, the security of an the item is aligned with the parent container. Refiling security ensures that only the authorized teams or users can view and access the item. Security is refiled for items in the folders that inherit security.
Each refile type is an independent event and only affects that one type. For example, a security refile only affects security related fields and never modifies metadata. The events are enabled separately.