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Identify risks

Do the following to identify risks in Guided Assurance:
  1. Open an engagement in Engagement Manager, then select any of the forms to open it.
  2. Select a required form from the
    Identify Risks
     dropdown on the toolbar.
  3. Select
    Purpose/Usage Tip
     and
    Instructions
     to get tips and instructions for that form.
  4. Select expand to expand all items and complete the form.
  5. Select a hyperlink to go to paragraph guidance on Checkpoint.
  6. Add comments to a step and use the formatting for the comment boxes such as bold, italic, underline, and add workpaper reference. 
  7. Use the Identified Risks pane that opens with the form to add, edit, or remove any risk you identify that could result in material misstatement of the financial statements.
    1. Select add to add risks.
    2. Enter information about the identified risk and mark the checkboxes for any audit areas affected by the risk.
    3. Select any assertions affected by the risk for each audit area.
    4. Select
      Finish
      .
      You can edit or delete existing risks within each planning form using the Edit and Delete in the Identified Risks pane.
  8. Select Save
    Save
     to save information before going to another form.
  9. Select
    Next
     or select another form from the
    Identify Risks
     dropdown.
  10. When you've completed all planning forms, you're ready to assess the effects of risk.

This article applies to:

  • Product: Guided Assurance
  • Subject: Audit

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