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Control Self-Assessment (CSA) Management Quiz

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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?

Explicit acknowledgment by management that all monitoring activities are recorded in the enterprise IT risk register (A) Signup and view all the answers

What is the primary purpose of control monitoring?

To verify whether the control is effectively addressing the risk (D) Signup and view all the answers

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

It helps in identifying where corrective actions can be taken (D) Signup and view all the answers

How should the monitoring of controls be based?

Based on data that are relevant to the risk and overall performance (C) Signup and view all the answers

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

The plans to ensure they align with enterprise risk appetite and tolerance (C) 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.