Note: You need to have the role Risk Manager or Administratorto create a new risk directory.
- Click on “Risk management”
in the left menu. - Click on “Create new directory”
in the upper right corner. - Provide a name and description.
- Click “Create directory”
.
You will now see an empty directory, that you can design with processes, sub-process, and risks by clicking on "Add"
(Figure 1).
Figure 1: Empty directory
Note! Processes and sub-processes objectives both consist of a name and a description.
What does a risk directory consist of?
When your processes and sub-processes has been created it is time to add risks to the risk directory.
- Name and description.
- Financial statement assertions (completeness, valuation or allocation, existence or occurrence, presentation and disclosure, rights, and obligations).
- Objectives (strategic, operations, reporting, compliance).
All these elements help you define the risks your company is facing. Assertions and objectives can be customized.
Note! To be able to open and see the identified risks in the risk map in the Risk management, you must assign an entity (or several) to the risks.
Learn more:
Do you need a step by step guide on how to get started with Risk Management? Go to Set up Risk Management