Control Self-Assessment (CSA)- How,what & why ?
Control Self-Assessment (CSA) is a technique by which an organization accesses & assesses the effectiveness, reliability and adequacy of existing internal controls which may help the organization in strengthening existing controls further.
What can be detected by CSA ?
CSA may help in finding
1.Internal Controls
2.Business & Operation Risks
3.Effectiveness of Controls
4.Reliability & Adequacy of controls
What are the benefits of CSA?
1.Optimization of resources
2.help in risk mitigation
3.Speedy audit
Procedure for conducting CSA
Followings are the steps needed for CSA
1.Questionnaires are sent to previously identified user.
2.Users complete the questions and send the answers to internal audit team.
3.Questionnaires are evaluated.
4.Risk & efficacy for various internal controls are determined.
How CSA is different from other types of audit?
CSA can identify areas of higher risks earlier which may be thoroughly reviewed later
What CSA can not do?
CSA can not take or replace the traditional or formal audit of the organization
What can be detected by CSA ?
CSA may help in finding
1.Internal Controls
2.Business & Operation Risks
3.Effectiveness of Controls
4.Reliability & Adequacy of controls
What are the benefits of CSA?
1.Optimization of resources
2.help in risk mitigation
3.Speedy audit
Procedure for conducting CSA
Followings are the steps needed for CSA
1.Questionnaires are sent to previously identified user.
2.Users complete the questions and send the answers to internal audit team.
3.Questionnaires are evaluated.
4.Risk & efficacy for various internal controls are determined.
How CSA is different from other types of audit?
CSA can identify areas of higher risks earlier which may be thoroughly reviewed later
What CSA can not do?
CSA can not take or replace the traditional or formal audit of the organization
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