Risks and Controls

This Sherlock International visualization provides details related to Risks and Controls, including:

Each tab includes controls to display data based on the client name and year end.

Risk Summary

Widget Description

Trends in Risks/Significant Risks vs. Financial Statement Areas

Displays the number of risks and significant risks, year over year, for each Financial Statement Area.

Evolution of Individual Risks RMM Assessment

Displays the breakdown of the total number of risks based on the individual assessment of Risk of Material Misstatement, year over year.

Financial Statement Areas with Risks/Significant Risks

Displays the number of risks and significant risks, for the selected year, for each Financial Statement Area.

Trend in Risks with Associated Controls/Without Associated Controls

Displays the number of risks with and without associated controls, year over year.

Controls Summary

Widget Description

Trend in Business Cycles with Associated Controls

Displays the number of controls, year over year, for each Business Cycle.

Evolution of Control Effectiveness

Displays a breakdown of the total number of controls based on the individual assessment of control effectiveness, as well as if controls have not been tested, year over year.

Controls with Most Risks Associated

Displays the number of risks associated with each control for the selected year.

Trend in Degree of Control Automation

Displays the percentage of automated controls out of total controls, year over year.

Trend in Controls Being Tested

Displays the percentage of tested controls out of total controls, year over year.

Trend in Satisfactory Controls

Displays the percentage of satisfactory evaluation controls out of total controls, year over year.

Trend in Control Effectiveness

Displays the percentage of effective controls out of total controls, year over year.

Risk Report

Widget Description

Risk cards

Displays for the selected year:

  • Total number of risks
  • Total number of significant risks
  • Total number of risks that require procedures other than substantive
  • Total number of risks without associated controls
  • Total number of risks that are not treated or mitigated by management
  • Total number of risks that are not addressed by audit procedures

Risks

Displays details of the risks and corresponding properties for the selected year. Additional filtering is available on the Controls bar.

Control Report

Widget Description

Controls cards

Displays for the selected year:

  • Total number of controls
  • Total number of key controls
  • Total number of automated controls
  • Total number of manual controls
  • Total number of controls with an unsatisfactory design
  • Total number of controls with an unsatisfactory evaluation
  • Total number of controls not being tested
  • Total number of ineffective controls

Controls

Displays details of the controls and corresponding properties for the selected year. Additional filtering is available on the Controls bar.