Risks Overview

Risk information flows to various forms, as applicable, so that you always see the risk information you need to work with in the context of appropriate forms.

Risks are categorized on the Risk Summary page by Engagement Knowledge Coach title and then divided into the following types:

  • Financial Statement Level Risks
  • Specific Risks
  • Major Program Level Risks (Compliance Audit Titles Only)
  • Compliance Requirement Level Risks (Compliance Audit Titles Only)

Note: The Specific Risk type only displays if there are specific risks created.

Risks can only be added for the title of the open form. For example, if you have KBA Commercial forms opened, risks cannot be added to KBA Construction forms.

Risks cannot be added to independent forms that do not include foundation formsClosed Forms that must be in your engagement to use other Knowledge Coach functionality. Foundation forms allow information and logic to flow between forms, drive the direction of the audit, and help determine the required areas for your audit. They are added by default to all new engagements..