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Risk Identification
As part of the audit process, risks must be identified for your client engagement and your audit designed to address these risks. The template has automated the accumulation of risks to help you easily manage and track client risks. Risks identified throughout the audit will be accumulated for assessment in the risk reports. Risks can also be linked to specific audit procedures to indicate where the risk has been specifically addressed. Once risks have been identified, the engagement team can identify the controls to mitigate these risks.
How Do I?
- Completing and Understanding of the entity
- Adding an identified risk
- Importing a Risk
- Modifying Risk in the risk report
- Deleting Risk in a risk report
- Creating a customized risk report view
- Copying risks from another client file
- Copying a risk from within the File
- Creating a customized risk report view
- Creating additional risk reports
- Assessing Risk in the Financial Statement Areas Worksheet
More Info
- Risk Identification
- Identifying Risks Through Understanding the Entity
- Audit Documentation and Identified Misstatements
- Annotations
- Risk Reports
- Mini Risk Report
- Risk Report - Filters
- Linking Procedures to Risk
- Detailed Audit Response Instructions
