Control Self-Assessment (CSA) Management Quiz
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Questions and Answers

What is the primary purpose of a control self-assessment (CSA)?

  • To conduct periodic customer surveys
  • To evaluate the performance of the employees
  • To review the financial statements of the enterprise
  • To assess the reliability of the internal control system (correct)
  • What is one of the benefits of a CSA?

  • Decreased employee knowledge of risk and internal controls
  • Reduced employee awareness of enterprise objectives
  • Development of a sense of ownership of the controls in the employees and process owners (correct)
  • Increased resistance to control improvement initiatives
  • Who facilitates the self-assessment of IT-related controls?

  • A marketing manager
  • An IT auditor and/or risk manager (correct)
  • A human resources supervisor
  • A finance analyst
  • What should an IT auditor ensure regarding monitoring activities?

    <p>Explicit acknowledgment by management that all monitoring activities are recorded in the enterprise IT risk register</p> Signup and view all the answers

    What is the primary purpose of control monitoring?

    <p>To verify whether the control is effectively addressing the risk</p> Signup and view all the answers

    What is the significance of self-assessment in monitoring controls?

    <p>It helps in identifying where corrective actions can be taken</p> Signup and view all the answers

    How should the monitoring of controls be based?

    <p>Based on data that are relevant to the risk and overall performance</p> Signup and view all the answers

    When risk action plans are required, what should be monitored?

    <p>The plans to ensure they align with enterprise risk appetite and tolerance</p> Signup and view all the answers

    Study Notes

    Control Self-Assessment (CSA)

    • Primary purpose of a CSA: to evaluate the design and operating effectiveness of IT-related controls

    Benefits of CSA

    • One of the benefits: identifies control deficiencies and opportunities for improvement

    Facilitation of Self-Assessment

    • IT management facilitates the self-assessment of IT-related controls

    IT Auditor Responsibilities

    • Ensure that monitoring activities are properly documented and tested

    Control Monitoring

    • Primary purpose: to provide assurance that controls are operating effectively
    • Significance of self-assessment in monitoring controls: allows for ongoing evaluation of control performance

    Monitoring of Controls

    • Should be based on risk and materiality

    Risk Action Plans

    • When required, monitoring should focus on progress and completion of remediation activities

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    Description

    Test your knowledge of control self-assessment (CSA), a management technique used to assure stakeholders about the reliability of internal control systems. Explore the concepts of proactive control reviews, risk awareness, and staff and management involvement.

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