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This article applies to:

  • Product: Guided Assurance
  • Subject: Workpapers

Add identified risks to a review engagement

You can document identified risks in a review engagement. You'll be able to add descriptions of the risks you identify and select the audit areas affected by those risks.
  1. Create a Review engagement in Guided Assurance.
  2. In the setup questions, select
    Yes
     to "Would you like to document identified risks?"
  3. Select  green check mark to get more information about documenting identified risks.
  4. Go back to your engagement and open the Risk Considerations Form (CX-0.4).
  5. important
    Make sure you choose to edit the form instead of view the form.
  6. Select
    Add
     in the Identified Risks panel.
  7. Choose
    Add Overall Financial Statement Risk
     or
    Add Risk for Financial Statement Areas
     from the dropdown.
  8. If you choose
    Add Overall Financial Statement Risk
    , describe the risk and then select
    Finish
    .
  9. If you choose
    Add Risk for Financial Statement Areas
    , describe the risk, select the financial statement areas affected, and then select
    Finish
    .

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