What is probability in SAP GRC-TC - SAP Tax Compliance?

SAP Term: probability

• Component: GRC-TC

• Component Name: SAP Tax Compliance

• Description: Numeric value between 0 and 100 to quantify the probability that the identified issue hit is a compliance violation. The higher the number, the higher the probability that the hit is a compliance violation that must be resolved.

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• Key Concepts: 
  Probability is a concept used in SAP Tax Compliance (GRC-TC) to determine the likelihood of a certain event occurring. It is used to assess the risk of a particular transaction or activity and can be used to make decisions about how to proceed. Probability is expressed as a percentage, with higher percentages indicating a higher likelihood of the event occurring. 
  
  How to use it: 
  In SAP Tax Compliance, probability is used to assess the risk of a particular transaction or activity. This assessment is based on the data available and can be used to make decisions about how to proceed. For example, if the probability of an audit is high, then additional steps may need to be taken to ensure compliance with tax regulations. 
  
  Tips & Tricks: 
  When assessing the probability of an event occurring, it is important to consider all available data and take into account any external factors that may affect the outcome. Additionally, it is important to remember that probability is not an exact science and that there is always some degree of uncertainty involved. 
  
  Related Information: 
  Probability is closely related to risk management and can be used in conjunction with other risk management techniques such as scenario analysis and Monte Carlo simulations. Additionally, probability can be used in conjunction with other decision-making tools such as decision trees and game theory.