The Risk Management App is the ideal solution for tracking, documenting, and managing your organization’s tax risks. These risks might arise from audits conducted by tax authorities.

Previously, users had to choose between tracking events in either the risk app or the controversy app. Managing both required handling events in two separate systems, leading to complexity and increased time spent. Users had to manually update each platform to ensure the organization’s risk exposure was accurately captured. To streamline this process, we’ve introduced a synchronization feature that seamlessly integrates risks and audits, eliminating duplication and simplifying management.

With the synchronization feature, users can manage risks and audits more efficiently, greatly reducing data duplication and manual effort. This integration ensures data quality remains consistently high across both applications. By providing accurate, up-to-date information, organizations can respond more swiftly to potential issues and make informed decisions with greater confidence.

We have created a 2-minute video to guide you through using this feature. In the video, we have an audit, and we will sync it with a risk.

Once your audit is created, you can go to the ‘Audit details’ tab. Here, you’ll find the “Sync audit and risk” panel. By clicking the “Create new risk & sync” button, you can create a new risk that automatically syncs with your audit.

The create & sync feature allows you to generate a new risk directly from your audit, reducing manual data entry by synchronizing information between the Controversy and Risk apps. Any updates made will be automatically reflected in both the risk and controversy apps.

To show which panels are synced, we will use the sync icon. For example, here we have a risk that is synced with an audit.

💡Please note that syncing a risk with an existing audit is not possible. To create a new risk from an existing audit, follow the above steps, but start from the audit.

💡After a sync, you can still delete the synced risk or audit.