Overview of Audit risk assessment

The audit risk assessment in the Audit app helps you to systematically evaluate and prioritize auditable entities based on various assessment factors. Audit risk assessment and audit planning provide essential data to perform risk based audit planning.

Key features

Here are the key features of audit risk assessment:

• Workflow The audit risk assessment involves a structured workflow that includes setting up auditable entities and assessment factors, defining scales for risk evaluations, conducting the risk assessment, and managing audit planning based on the results.

• Audit risk assessment dashboard A central dashboard provides visibility into ongoing and completed audit risk assessments, allowing you to track progress and manage your assessments effectively.

• Linking with Audit planning After the audit risk assessment is complete, you can directly link it to audit plans, facilitating a streamlined audit process.