What is audit valuation in SAP CA-AUD - Audit Management?

SAP Term: audit valuation

• Component: CA-AUD

• Component Name: Audit Management

• Description: The valuation defines to what extent the questions in the list fulfilled the audit requirements. The valuation is defined using a valuation profile.

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• Key Concepts: 
  Audit valuation is a feature of the SAP Component CA-AUD Audit Management. It is used to assess the value of an audit, based on the risk associated with it. The audit valuation process involves assigning a numerical value to each audit, which is then used to determine the priority of the audit. 
  
  How to use it: 
  The audit valuation process begins by assigning a numerical value to each audit. This value is based on the risk associated with the audit, and can range from 1 (low risk) to 5 (high risk). Once the values have been assigned, they are used to determine the priority of the audit. Audits with higher values are given higher priority, while those with lower values are given lower priority. 
  
  Tips & Tricks: 
  When assigning numerical values to audits, it is important to consider both the potential risks and rewards associated with each audit. This will help ensure that audits are given an appropriate level of priority. Additionally, it is important to regularly review and update the assigned values, as risk levels can change over time. 
  
  Related Information: 
  For more information on SAP's CA-AUD Audit Management component, please visit https://help.sap.com/viewer/product/CA-AUD/latest/en-US.