Richard Chambers has shared his valuable insights in another post. In Europe’s Internal Auditors Are Already Identifying the Risks for 2021 he makes a number of excellent observations, especially his opening paragraph.
Norman Marks discusses points from a recent paper, Feeling hungry? A simpler, more intelligent approach to risk appetite, written by Chris Burt of Halex Consulting.
While the cost of control is certainly something to consider, there are times (many, many times) when more risk should be taken because of the potential for increased reward.