Who is responsible for determining if an IT risk has been reduced to an acceptable level?

Determining if an IT risk has been reduced to an acceptable level is fundamentally rooted in the organization's overall risk management strategy and governance framework. Organizational requirements encompass the established criteria, policies, and compliance mandates that guide how risks should be assessed and managed within the context of the specific business environment.

When organizational requirements define acceptable levels of risk, they often reflect business objectives, regulatory obligations, and industry standards, ensuring that the risk management process aligns with broader company goals and stakeholder expectations. Thus, it is the responsibility of the organization as a whole to adhere to these requirements and ensure that risks are addressed accordingly.

Additionally, while the IT department, external auditors, and employees all play roles in the risk management process, they do so within the framework of the organizational requirements. The IT department implements strategies to mitigate risks, external auditors assess compliance and effectiveness, and employees contribute to a risk-aware culture. However, the ultimate accountability for determining acceptability rests with the organization's established criteria and governance structures.