Note: You need to have the role Risk Manager to create a new risk directory.
To add a risk directory, click on “Risk management” in the left menu. Then click on “Create new directory” in the upper right corner. Provide a name and description and click “Next”.
You can now design your risk directory with processes, sub-processes, and risks. Processes and sub-processes objectives both consist of a name and a description.
When your processes and sub-processes has been created it is time to add risks to the risk directory. A risk consists of a name and description, financial statement assertions (completeness, valuation or allocation, existence or occurrence, presentation and disclosure, rights, and obligations) and objectives (strategic, operations, reporting, compliance). All these elements help you define the risks you company is facing. Assertions and objectives can be customized.
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.
You need a step by step guide on how to create a risk directory? Go to Set up Risk Management