Can the FSA be used before a Trial balance is imported?
A user can pre-fill the FSA prior to the import of a Working Trial balance.
For example, a user may select the Inherent, Control and Residual risks for each assertion of every FSA prior to the import of a working trial balance.
However
please consider the following:
- To ascertain the material side of the FSA the user needs to import the appropriate Working Trial Balance because the FSA generated is with no planning balances.
- Once the Trial balance is imported the FSA will need to be refreshed to get the planning balances into the planning column.
- To refresh, click 
,
and this will not affect any risk assessments pre-filled before importing
a Trial balance.
- Further more the inherent and control risks should always be reviewed after the materiality calculations have been done as circumstances can change with each financial period or interim period.
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