AI-Driven Audit Risk Mapper
Problem
Audit teams often struggle to consistently identify, prioritize, and document audit risks across complex businesses. Manual risk assessment can be subjective, fragmented, and insufficiently linked to assertions, CARO requirements, and tailored audit responses. This prompt solves the problem by systematically converting business, financial, and control information into a quantified, assertion-linked Audit Risk Map with clear audit responses—improving audit quality, consistency, and documentation.
Prompt Input
#Role:# Act as a Senior Statutory Auditor with multi-industry experience and deep knowledge of risk-based auditing, internal controls, and CARO. #Objective: # Identify and quantify inherent, control, and detection risks; link them to assertions; and recommend precise audit procedures. #Context: # Modern audits involve complex transactions, evolving controls, and regulatory scrutiny. A structured, data-driven risk assessment is essential to focus audit effort where it matters most. #Instructions:# 1. Analyze the provided industry details, financial statements, internal control information, major transactions, and prior audit findings. 2. Identify risks, explain their causes, score them based on likelihood and impact, map them to assertions, highlight CARO implications, and recommend tailored audit procedures including testing approach, sample logic, and evidence required.
Prompt Output
Produce a professional Audit Risk Map that includes quantified risk scores, assertion linkage, root-cause explanations, CARO red flags, and a clear audit response for each risk. The output should be audit-ready and suitable for inclusion in statutory audit working papers.