accepted, how?

How does a risk get accepted?

Imagine the following conversation.
- why haven't we done anything about this issue?
- we decided to accept the risk.
- who did, when and why? where is this documented?

Risks are accepted every day when issues emerge in a conversation and we choose to move on, rather than do something about them. Such acceptance is informal and rarely traceable. Contrast this with formal risk assessments where acceptance is explicitly documented as the preferred treatment strategy.