Risks are often defined as gross risks or inherent risks before management addresses those risks After those risks are addressed, there remains what is often called residual risks From an internal auditing perspective, what is it that we say management does when it addresses inherent or gross risks What should management do if the degree of residual risk is still at a level that management considers to be unacceptable (too high)

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Question: Risks are often defined as gross risks or inherent risks before management addresses those risks. After those risks are addressed, there remains what is often

Risks are often defined as gross risks or inherent risks before management addresses those risks. After those risks are addressed, there remains what is often called residual risks.

From an internal auditing perspective, what is it that we say management does when it addresses inherent or gross risks?
What should management do if the degree of residual risk is still at a level that management considers to be unacceptable (too high)?

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