How do I use the new Flat-form Risk tables?
The new Flat-form risk tables contain risks identified in the engagement file. They can be found in several different workpapers, and the functionality of the table depends on which workpaper you are in.
For those using the Public Sector template, the Inherent Risk Filter is to High only and High / Medium.These tables have two filters, the inherent risk filter and the summary filter.
The first option affects the look of the RRPT table (Summary view).
The Detailed option will show columns of all of the risk’s details.
The inherent risk filter allows you to filter risks by the value in the inherent risk column of the table.
For more information on these filters, select the information buttons to the left of the filters.
You may see a yellow triangle in the Significant column of the risk table.
This happens when there is a discrepancy with the value in the Significant column and the Inherent risk column. If you have “Significant” in the Inherent risk column, you must also have “Yes” in the Significant column. In the above screenshot, You can see the yellow triangles next to rows where those column values don’t match.
The following are a few examples of worksheets that contain the new risk tables, and how these tables work.
2-400 & 2-420 (and 2-315 applying ASA 610)
These both will only show risks that are specific to that workpaper.
If you wish to view all of the risks in the engagement instead, right-click the red table heading and select Show All Risk for engagement.
6-150
The 6-150 worksheet’s risk tables display all of the risks that are in the engagement file.