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Why is the concept of residual risk important? Select one: a
Why is the concept of residual risk important? Select one: a. Because the cost-benefit analysis supporting control design is part of the measure of residual risk. b. Because residual risk is difficult to measure c. Because residual risk is all of the risk that remains after controls are established. d. Because the risk that remains after control design and implementation needs to be acceptable to senior management
Expert Solution
Solution: Option-d
Explanation: The residual risk refers to the danger or risk involved with an event or action remaining after inherent or natural risks has been reduced through the controls or treatment of risk. Thus the residual risk is the danger that still remains after control design and implementation should be acceptable to the top management.
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