--- sourceDocument: Yokohama Governance, Risk, and Compliance sourceDocumentLink: https://servicenow-prod.fluidtopics.net/r/yokohama/governance-risk-compliance Release : - yokohama ft:locale : - en-US ft:publication_title : - Yokohama Governance, Risk, and Compliance ft:clusterId : - grc bundleId : - grc workflow : - Technology --- # Impact assessments for the regulatory alerts # Impact assessments for the regulatory alerts {#ariaid-title1} * Release version: Yokohama * * Updated July 31, 2025 * * ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 1 minute to read A regulatory event alert may result in a regulatory change to an organization. You can evaluate the impact of the regulatory change on your organization by performing impact assessments. Regulatory updates are frequent and come from various sources. These updates often involve a high volume of complex information that the regulatory domain experts must address. The first task for a regulatory change manager is to interpret the update and determine its implications for the business. This involves identifying affected policies, controls, or citations, and specific regulatory references or requirements. ## Types of impact assessments {#impact-assessment-task__section_dmv_5hh_ydc} The impact assessment process is used as a reporting tool for evaluating the impact of a proposed regulatory change. For a given regulatory event alert, the assigned user triggers an impact assessment to a subject matter expert who is an expert in a certain regulatory area. The expert then performs an impact assessment on the regulatory event alert. Impact assessments are of the following types. * Risk assessment: This process traditionally uses a risk-based approach to prioritize and manage the impact of the regulatory updates. This approach helps experts focus on the entities most likely to be affected. The findings and responses generated from this risk assessment process are gathered and documented systematically. This ensures that your organization can track compliance actions, and mitigate risks. Refer to [Respond to a regulatory alert risk assessment](https://servicenow-prod.fluidtopics.net/OCJShTSJTEwVFQBiKAmpEA "Respond to a classic risk assessment on a regulatory alert to determine which entities are impacted and what actions must be taken to mitigate the risks.") to understand how to respond to a risk assessment. * Regulatory assessment: This assessment utilizes the Smart Assessment Engine to perform smart assessments on regulatory alerts. In this assessment you can customize your impact assessment process by creating your own assessment questionnaire templates. For example, if your organization deals with regulations like the Digital Operational Resilience Act (DORA) or the European Union AI Act, you can design assessment templates focused solely on the aspects and obligations of these regulations. To learn more about a regulatory assessment, refer to [Regulatory assessment for a regulatory alert](https://servicenow-prod.fluidtopics.net/GMH4yLzn_kcxxZ41LGyoig "Utilize the Smart Assessment Engine to perform smart assessments on regulatory alerts. This ability enhances regulatory decision-making by enabling impact assessments directly at the regulatory alert level, streamlining processes through a unified core assessment framework, and assigning analysis to multiple stakeholders for improved collaboration and efficiency."). For more information about Smart Assessment Engine, refer to [Smart Assessment Engine](https://servicenow-prod.fluidtopics.net/SPXuZ6CpdMRckr9i3A89eA "The ServiceNow Smart Assessment Engine (SAE) application helps you to reduce the manual burden and costs of your assessment processes through automation."). {#impact-assessment-task__ul_aps_rfh_ydc} Note: For more information on how to initiate either of these assessments, refer to [Assess the impact of a regulatory alert](https://servicenow-prod.fluidtopics.net/S_8_S2v6yyRq9975TgOIqw "Evaluate the risk of a regulatory alert by initiating either a risk assessment or a regulatory assessment."). **Related concepts** * [Regulatory Change Management application landing page](https://servicenow-prod.fluidtopics.net/E~0_CAc63YSMYDrjoZhF7A "The Regulatory Change Management application landing page view provides the overview of the regulatory activities in your organization. Users with the sn_grc_reg_change.manager roles only can view the Regulatory Change Management landing page in the primary navigation in the Compliance Workspace.") * [Tasks page in the Compliance Workspace](https://servicenow-prod.fluidtopics.net/0uZJDwJzEQNKMMsxpHB3FQ "The Tasks page within the Compliance Workspace provides a centralized, task-centric interface for managing all activities related to regulatory events, source documents, and compliance workflows. It helps you stay organized, ensures timely and accountable action, and promotes overall regulatory readiness.") * [Source document import tasks](https://servicenow-prod.fluidtopics.net/ylE4TdF14ymeU4oK~wlOwg "The Regulatory Change Management application processes external alerts that may include citation titles, citation numbers, and references to legislative or regulatory materials relevant to compliance.") * [Regulatory process flow and tasks](https://servicenow-prod.fluidtopics.net/2QkEZKYrKHfCxf2t~Ey4rg "The Regulatory Change Management process flow includes the tasks that different users can perform to help your organization manage and comply with regulatory changes.") * [RSS feeds overview](https://servicenow-prod.fluidtopics.net/9lnEl~Kxw~wJJ9XpWWoqIw "A Really simple syndication (RSS) feed in Regulatory Change Management is like a subscription service for updates about new or changed rules and regulations. Instead of visiting multiple websites to check for updates, you can subscribe to feeds from regulatory bodies or industry news.") * [Regulatory assessment for a regulatory alert](https://servicenow-prod.fluidtopics.net/GMH4yLzn_kcxxZ41LGyoig "Utilize the Smart Assessment Engine to perform smart assessments on regulatory alerts. This ability enhances regulatory decision-making by enabling impact assessments directly at the regulatory alert level, streamlining processes through a unified core assessment framework, and assigning analysis to multiple stakeholders for improved collaboration and efficiency.") * [Next Experience Discuss and Chat Collaboration](https://servicenow-prod.fluidtopics.net/aQcU7xu5_1a_XzFnTCEaxg "On a regulatory change management case, select Discuss from other options. Collaborate with virtual agents by using Next Experience Chat Collaboration and Discuss.") * [Regulatory Change Management application in the Compliance Workspace](https://servicenow-prod.fluidtopics.net/lxW4gcNtqIwoAMFxYcU39A "Starting with GRC: Regulatory Change Management, version 13.0.1, the Regulatory Change Management application is available in Compliance Workspace. Compliance Workspace provides your users with a single-pane view so that they can check upcoming regulatory changes, assess their impact, and implement risk and compliance-related changes for the organization.") * [Exploring Now Assist in Regulatory Change Management (RCM)](https://servicenow-prod.fluidtopics.net/8QK3VpRq6YAxfbtxpqVmDQ "With Now Assist in Regulatory Change Management, part of the ServiceNow Otto for Integrated Risk Management (IRM) application, you can use agentic workflows and generative AI skills that streamline the analysis, summarization, and impact assessment of regulatory alerts. These capabilities empower compliance teams to act swiftly and accurately on regulatory changes.")