How to use the Agile Risk Library?

What is the Agile Risk Library?

The Risk Library is a repository of risks that you can import into any Agile engagement file.

How many risks are in the Agile Risk Library?

Currently there are 20 risks contained in the Agile Risk Library. This number will grow in future iterations of the risk library. It is also important to note that updates to the risk library are not dependent on the Agile update. This means CaseWare Australia & New Zealand can update the risk library regularly as required.

Can I add my own risks to the Agile Risk Library?

Currently, you are not able to add your own risks to the library.

Are there any controls / management letter points in the Agile Risk library?

Currently there are no controls or management letter points in the risk library.

How do I import risks from the Agile Risk library into my engagement?

1. In the Agile engagement file, select the Risks button on the Navigation toolbar.

2. Press the Risk Library button to open the Agile Risk Library

3. The Agile Risk Library is categorised by the following business cycles:

Revenue / Receivables / Receipts
Expenses / Payables / Payments / Payroll
Estimates, Assumptions & Judgements
Financial Reporting & Disclosures

Select the risk you wish to include from the list.

4. Towards the top-right corner, press the

button to confirm the risks you are wanting to import into your engagement.

5. Press Add to Engagement to finalise the process.

6. You will now be returned to the Risk screen, and the selected risks should now be in your Agile engagement file.

You can only import each risks once into an Agile engagement file

Each risk can be imported no more than once into an Agile engagement file. Within the Risk Library you can utilise this filter to check which risks have already been imported into the Agile engagement file.

Press the double check button to insert the risks.

You will notice the number of risks selected will appear under the icon. In this case, 3.