Add identified risks
Content in this topic requires Caseware Audit.
If you have identified potential risks, add them to the engagement file.
To add a risk:
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On the engagement toolbar, select New engagement item () | Risk. The New Risk dialog displays.
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Enter a title and description for the risk.
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Select the appropriate level of risk. Select the Financial Statement level if the risk has a pervasive effect on the financial statements and potentially affects many assertions. Select the Assertion level if the risk affects a specific financial statement area.
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Complete any other applicable options.
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Select Save.
The risk now displays in the 520 Risk report document.
Add a risk from the risk library
You can add risks to the engagement directly from the predefined list in the risk library.
To add a risk from the risk library:
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On the engagement toolbar, select New engagement item () | Risk from library. The Risk Library opens.
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Filter the list of risks using the Categories drop-down menu, and select RESET to clear the filter.
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Select the checkbox next to the risks you want to add to the engagement. As you select risks, the number next to the Selected Risks indicator () increases. Select the indicator for a list of selected risks.
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When you have finished selecting risks to add, select the Selected Risks indicator (), then ADD TO ENGAGEMENT.