Which of the following is the most important benefit of control self-assessment (CSA)?
A. CSA is a policy/rule driven
B. In CSA approach, risk is identified sooner
C. CSA requires limited employee participations
D. In CSA, resources are being used in an effective manner.
Answer: B
Explanation:
Control self-assessment is an assessment of controls made by staff and management within the unit or units involved. It is a management technique that assures stakeholders, customers and other parties that the internal controls of the organization are reliable. The CSA approach requires extensive employee participations and training. This will help to employee understand more about business risks. This will insure the detection of risk in timely manner.
For your exam you should know the information below about control self-assessment:
Benefits of CSA
Early detection of risk
More efficient and improved internal controls
Creation of cohesive teams through employee involvement
Developing a sense of ownership of the controls in the employees and process owners, and reducing their resistance to control improvement initiatives
Increased employee awareness of organizational objectives, and knowledge of risk and internal controls
Highly motivated employees
Improved audit training process
Reduction in control cost
Assurance provided to stakeholders and customers
Traditional and CSA attributes
Traditional Historical CSA
Assign duties/supervises staff Empowered/accountable employees
Policy/rule driven Continuous improvement/learning curve
Limited employee participation Extensive employee participation and training
Narrow stakeholders focus Broad stakeholders focus
Auditors and other specialist Staff at all level, in all functions, are the primary control analysts
The following answers are incorrect:
The other options specified are incorrectly describes about CSA.
The following reference(s) were/was used to create this question:
CISA review manual 2014 page number 61, 62 and 63
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