Risk Assessment

 

  • Items identified as risks or requiring additional testing are "flagged" from the TB - sent to a risk assessment page where further work is done analysing risk, potential controls and testing to be done
  • Risks identified and work to be done is then carried through to lead schedules or other relevant pages, and medium, high or significant risks are summarised with work done on one page at the end of the job prior to sign-off

Any other risks identified during the planning or testing may also be flagged for analysis - say from an Internal Control Analysis or Analytical Review page

  • These are transferred to the Risk Assessment page and optionally to relevant work-papers so that the audit work is focussed on these issues
  • They also transfer to Audit Summary page (if assessed at above low risk) in finalising area to ensure they have been addressed at the close of the job

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