Turn risk assessment into a defensible audit plan.
Score risk where it actually lives — against your auditable entities — and let that scoring drive what gets audited.
In brief. Internal audit risk assessment evaluates the likelihood and impact of risks across the audit universe so audit effort can be prioritized toward the areas that matter most.
The business problem
When risk assessment happens in a separate spreadsheet from the audit plan, the link between the two is manual, easy to lose, and hard to justify to an audit committee asking why one entity was prioritized over another.
How the platform solves it
The platform keeps a risk register connected directly to auditable entities, scores risk consistently, and visualizes exposure on risk matrices and heatmaps — so risk-based prioritization is built in, not bolted on.
Capabilities
Risk register
Maintain a structured register of risks, each linked to the entities they affect.
Risk scoring
Score risks consistently so entities can be compared on a like-for-like basis.
Risk matrices & heatmaps
Visualize likelihood and impact across the audit universe to see exposure at a glance.
Risk-based prioritization
Use risk scores directly as an input to annual audit planning.
Workflow
- 1Record risks against entities in the risk register.
- 2Score each risk for likelihood and impact.
- 3Review exposure on the risk matrix and heatmap.
- 4Carry prioritized risk into the annual audit plan.
Business benefits
- A plan built on evidence instead of last year's list
- Clear traceability from risk score to planned audit
- A heatmap leadership can actually read at a glance
Related capabilities
In the audit lifecycle, risk assessment follows Audit Universe and leads into Audit Planning. See the full platform overview or compare packages.
See the Audit & Risk Platform in action.
Watch the demo or talk to the team to see how the platform fits your audit function.
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