Risk acceptance involves consciously choosing to bear risk consequences rather than avoiding, transferring, or mitigating them, typically for low-impact risks or when treatment costs are prohibitive. Acceptance requires explicit approval by appropriate authorities and documentation of rationale. Accepted risks should be monitored as circumstances may change. For example, a software company might accept the risk of using an aging but stable legacy system for a low-volume internal tool, documenting that migration costs outweigh the limited business impact of potential system failure.