If you’re told of a risk of failure, but discount it, you can be in real trouble if the warned-of-risk happens.
“Company Was Told Of Risks To Dam,” The Wall Street Journal, February 7, 2019 A1. Report from months before dam collapse warned of those risks. Report was from an independent safety inspector who also acted as a consultant for the company. No conflict there, apparently.
Who do you get your information from? Were you right to continue to operate in light of the risk? Was your decision reasonable, when viewed in hindsight after 150 people are killed?
Information (risks are information, too) and Governance (did you use the information correctly?) and Compliance (is a safety inspector still independent if you’re also using them as a consultant?).