What is risk register in SAP GRC-AUD - SAP Audit Management?

SAP Term: risk register

• Component: GRC-AUD

• Component Name: SAP Audit Management

• Description: A repository for identified risks that can be used for risk-based auditing.

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• Key Concepts: 
  Risk Register is a component of SAP Audit Management (GRC-AUD) that allows users to identify, assess, and manage risks associated with their business operations. It provides a comprehensive overview of the risks associated with a particular process or activity, allowing users to prioritize and address them accordingly. The Risk Register also allows users to track the progress of risk mitigation activities and monitor the effectiveness of risk management strategies. 
  
  How to use it: 
  The Risk Register can be accessed through the GRC-AUD dashboard. Once in the Risk Register, users can create new risk entries by entering information such as the risk name, description, and associated processes or activities. Users can also assign a risk level (high, medium, or low) and assign a responsible party for each risk. 
  
  Tips & Tricks: 
  When creating new risk entries in the Risk Register, it is important to provide as much detail as possible. This will help ensure that all stakeholders are aware of the risks associated with a particular process or activity and can take appropriate action to mitigate them. Additionally, it is important to regularly review and update existing risk entries in order to ensure that they remain accurate and up-to-date. 
  
  Related Information: 
  For more information on using the Risk Register in SAP Audit Management (GRC-AUD), please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_AUDIT_MANAGEMENT/latest/en-US