> For the complete documentation index, see [llms.txt](https://engyon.gitbook.io/engyon/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://engyon.gitbook.io/engyon/en/how-to-guides/risks/create-a-risk-without-an-irf.md).
# Creating a risk without an IRF
On the `Risk Progress` page, an overview can be found of all inherent risks as currently identified within the audit. Click on `+ Risk` to create a new risk.
{% hint style="info" %}
Creating risks without linked Risk Factors can simply be performed. However, you will automatically lose part of the "common thread" of the audit.
{% endhint %}
For each risk, elements are visible such as the description, the status, the assertion, linked line items, and whether the risk is currently assigned to a specific user.
### Creating a risk
On the Create Risk screen are the fields below, in this order. Then click on Create. You can only use that button once Explanation of the chance and Explanation of the impact have been filled in.
| Component | Field | Complete |
| ------------- | ----------------------------------------- | ------------------------------------------------------------------------------------------------------------------------ |
| Details | Title | Mandatory. |
| Details | Description | Not mandatory. |
| Details | tags | Only if there are tags to choose from. Choose one or more, or none. |
| Scope | Applicable audit units | Only if this field is on the screen. With select all you choose them all. |
| Scope | General risk | Enabling hides Financial statement line items. |
| Scope | Financial statement line items | Choose the line item and the assertion. A line item can be chosen multiple times if the risk relates to more assertions. |
| Risk analysis | Fraud risk | When enabled, chance and impact become High, and Significant is turned on. |
| Risk analysis | Significant | When enabled, chance and impact become High. |
| Risk analysis | chance | Mandatory. Low, Medium or High. Below that, fill in Explanation of the chance. |
| Risk analysis | impact | Mandatory. Low, Medium or High. Below that, fill in Explanation of the impact. |
| Risk analysis | Inherent risk | Only with the Audit Risk Model. Low, Medium or High. |