• Risk Identification
  • Risk Identification
  • Understanding the Entity
  • Gathering Information About the Entity
  • Adding an Identified Risk
  • Copying Risks from Within the File
  • Importing Risks
  • Copying Risks from Another Client File
  • Risk Dialog
  • Risk Reports - Overview
  • Risk Reports Menus
  • Mini Risk Report
  • Risk Assessment in Financial Statement Areas Worksheet
  • Assessing Risk in the FSA
  • Creating a Customized View
  • Filters for Risk Reports and Control Matrices
  • Linking Procedures to Risk
  • Detailed Audit Response Instructions
  • Audit Documentation and Identified Misstatements
  • Annotations

Gathering Information About the Entity

Procedure

1. From the Document Manager, open the folder Risk Assessment, and then the folder Understanding the Entity. Double-click the document 505 Identifying risks through understanding the entity. .

2. To expand the various areas of the document, click "+" beside the title of each major area. To collapse the areas, click "-".

3. Complete the various areas of the document by completing the various input cells and tables. To add an additional line to a table, right-click and select Insert New Item.