Template Workpaper - Process Level Risk Assessment
About this template
Help plan for a risk based audit by using this process level risk assessment tool. This tool encourages the team to think of the high level end to end process for the audit topic. Within this high level process flow, the team can record all identified controls, and ay actual or potential risks Once completed, the team can then perform a risk assessment, considering the liklihood and impact of the risk occuring. The final conclusion can then help the team to better determine where they should direct their audit effort and ensure a test plan appropraitely addresses the risk.
When to use this template
This template should be used in the planning phase and should be completed once all process walkthoughs have been performed. The template should be used before there are any planning discussions.
Things to be careful about
The risk matrix and guidance slide within this document should be updated to reflect / align to your organisations current risk framework.
B3.1 -Process Level Risk Assessment
The information contained in this template is of a general nature and is for information purposes only.
My Audit Spot assumes no responsibility for errors or omissions in the contents of the template and any assocaited information.
In no event shall My Audit Spot be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, arising out of or in connection with the use of the template or the contents of the template and any assocaited information. My Audit Spot reserves the right to make additions, deletions, or modifications to the contents on the template and any associated information at any time without prior notice.
All disclaimers can be viewed here: https://www.myauditspot.com//legal-stuff.