What could be a potential consequence of not regularly reassessing accepted risks?

Regularly reassessing accepted risks is essential in risk management because the context in which risks exist can change. If a company does not reassess accepted risks, it may find itself exposed to a higher level of risk over time. This change can result from various factors, including advancements in technology, changes in the threat landscape, evolving regulatory requirements, or alterations in business processes and objectives.

When risks are not reviewed periodically, new vulnerabilities may emerge, and previously understood threats may evolve or become more severe. For instance, a particular security vulnerability that seemed manageable at one point could be exploited more easily due to the development of new hacking techniques, rendering prior risk assessments outdated. Consequently, the organization's risk profile could worsen, leading to potential breaches or failures that could have been mitigated with proper oversight and adjustments in risk management strategies.

This underlines the importance of continuous risk assessment as part of a proactive risk management strategy, ensuring that the organization remains aligned with its risk appetite and security objectives amid changing environments.