Podcast
Questions and Answers
What is the primary purpose of a control self-assessment (CSA)?
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?
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?
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?
What should an IT auditor ensure regarding monitoring activities?
What is the primary purpose of control monitoring?
What is the primary purpose of control monitoring?
What is the significance of self-assessment in monitoring controls?
What is the significance of self-assessment in monitoring controls?
How should the monitoring of controls be based?
How should the monitoring of controls be based?
When risk action plans are required, what should be monitored?
When risk action plans are required, what should be monitored?
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.