Adding audit risk assessment
Note
To create an audit risk assessment, you must first define the audit universe. If the audit universe is not defined and you attempt to add an audit risk assessment, then the app automatically directs you to the Define audit universe page.
Perform the following steps to add audit risk assessment:
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In the Audit home page, select the Go to audit risk assessment button under the Audit risk assessment tile.
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In the Audit risk assessment page, select Add audit risk assessment button on the top right.
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In the Add audit risk assessment wizard, enter a unique name for your audit risk assessment in the Name field and select the Next button.
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In the Auditable entities section, select the auditable entities that you want to include in your audit risk assessment.
Use the toggle to include/exclude auditable entities.
Initially, all auditable entities are excluded from your audit risk assessment. You can choose to include all or some, but at least one auditable entity must be included to proceed.
Note
Selecting Include/exclude toggle bar on the table header will include or exclude all auditable entities from the respective page.
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Select the Next button.
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In the Assessment factors section, select the assessment factors that you want to include in your audit risk assessment. Use the toggle to include/exclude assessment factors.
Initially, all assessment factors are excluded from your audit risk assessment. You can choose to include all or some, but at least one assessment factor must be included to proceed.
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Select the Next button.
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In the Select rating scale section, select the rating scale and then select the Finish button.
The default selection is aligned with the selection made in the Settings page.
When this step is completed, the audit risk assessment is added to the dashboard with the status as Draft.
