---
sourceDocument: Australia Governance, Risk, and Compliance
sourceDocumentLink: https://servicenow-prod.fluidtopics.net/r/governance-risk-compliance

 Release :

    - australia

ft:locale :

    - en-US

ft:publication_title :

    - Australia Governance, Risk, and Compliance

ft:clusterId :

    - grc

bundleId :

    - grc

workflow :

    - Technology


---

# Assess the impact of a regulatory event alert

# Assess the impact of a regulatory event alert {#ariaid-title1}

* Release version: Australia
* 
* Updated March 12, 2026
* 
* ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 1 minute to read

Assess the impact of a regulatory event alert by creating an assessment on the
regulatory event alert. Assign the impact assessment to the owner of the business entity
that is affected by the alert.

## Before you begin

Role required: sn_grc_reg_change.user

## About this task

As a user with the sn_grc_reg_change.user role, you can review the regulatory event
alert and initiate an impact assessment on the alert.

## Procedure

1. Log in with the sn_grc_reg_change.user role.
2. Navigate to AllRegulatory Change ManagementCompliance Workspace.  
   The Regulatory Change Management application in the Compliance Workspace is displayed.
3. Navigate to ListsAssigned Regulatory Alerts view.
4. Select the regulatory event type alert that is assigned to you as the coordinator of the alert.
5. Select Initiate Impact Assessment.
6. Select any entity from the Entities list for the impact assessment and select Create Assessments.  
   Note:  
   Perform an impact assessment on the regulatory event alert in the classic user interface as the form is not yet migrated to the Workspace. For more information, see [Assess the impact of a regulatory alert](https://servicenow-prod.fluidtopics.net/rAshkkVQDhxnQjh1amm5oA "Evaluate the risk of a regulatory alert by initiating either a risk assessment or a regulatory assessment."). If no entities are configured, you can configure new entities.
{#assess-impact-of-reg-change-using-ws__steps_grh_x5s_cqb}

## Result

In the Impact assessments related list, the new impact assessment is listed and it is automatically assigned to the entity owner. The entity owner reviews it and sends feedback on the assessment. After completing the assessment, the calculated inherent risk is displayed under the Assessment Summary tab. When the entity owner selects Mark as complete on the impact assessment, it saves the assessment details and marks it as Complete.

## What to do next

See [Manage regulatory change tasks](https://servicenow-prod.fluidtopics.net/YjYiQx540vb4a0QZK0O_LA "Manage the regulatory change tasks that are associated with the regulatory event alert. When a business entity owner completes the impact assessment on the regulatory event alert, the user with the sn_grc_reg_change.user role reviews the assessment summary and marks the alert as applicable.") for information on marking
the alert as applicable and managing the regulatory change tasks.
**Related tasks**   

* [Update a regulatory assessment template](https://servicenow-prod.fluidtopics.net/WSlr1DxHN84k1FZFaglnwQ "Publish a new version of assessment templates in Regulatory Change Management (RCM) to revise its questionnaire and response options. Each version maintains a change history of the templates used in regulatory assessments.")

*[\>]: and then