What is the CWANZ Audit System Risk Library?

What is the CWANZ Audit System Risk Library?

What is the Risk Library?

The Risk library is a repository of all risks, controls and management letter points that originally was available on the CaseWare Risk Space website.

Why do we need the Risk Library?

The Risk library was always accessible from CaseWare Risk Space, however, as of June 2021, CaseWare Risk Space has been discontinued and the Risk Library file has been included if users wish to utilise the data originally sourced on CaseWare Risk Space.

Any differences between data from Risk Space or CWANZ Library?

The only key difference is the Risk Space content being Australianised. Risk Space was developed in North America and had some subtle differences in their spelling. All data within the CWANZ Audit System Library has been Australianised. 

How do I access the data from the CWANZ Risk Library?

The CWANZ Risk Library will be installed with the October 2021 release of the Audit System template. The library is a standard audit file which is located here:
C:\Program Files (x86)\CaseWare\Document Library\CWANZ RiskLibrary

Whilst you are inside a CaseView document, you may import risks, controls or reportable items utilising the Import Risk, Import Controls or Import Reportable Items menus from the audit toolbar.

What is the performance of importing from the Risk Library?

There are 150 risks and over 350 controls in the Risk Library. There may be performance issues when loading the library via the import menus initially. However, this is mostly due to the volume of data available. Please contact support if the CWANZ Risk Library is unable to load.

Is my firm allowed to modify the CWANZ Risk Library?

The CWANZ Risk Library is a standard audit engagement file that firms may modify further if they wish. However, please consider that this library will be replaced each update and we strongly recommend you maintain your own internal backups if you modify the CWANZ Risk Library in any way.

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