There are very few situations that require you to change the color profile for a document. This is because your application automatically assigns the color profile based on the settings you select in the Color Settings dialog box. The only times you should manually change a color profile are when preparing a document for a different output destination or correcting a policy behavior that you no longer want implemented in the document. Changing the profile is recommended for advanced users only.
Assign a new profile. The color numbers in the document remain the same, but the new profile may dramatically change the appearance of the colors as displayed on your monitor.
Remove the profile so that the document is no longer color-managed.
(Acrobat, Photoshop and InDesign) Convert the colors in the document to the color space of a different profile. The color numbers are shifted in an effort to preserve the original color appearances.