To add a risk map click on “Risk center” in the left menu. Then click on “Add a risk map” under the Risk Maps tab. Provide a name and description and click “Next”.
You can now design your risk map with processes, sub-processes, control objectives and risks. Processes and control objectives both consist of a name and a description.
When your processes, sub-processes and control objectives has been created it is time to add risks to the risk map. A risk consist of a name and description, risk impact (low, medium, high), 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.
When you are done click “Save risk map”.