Control Self assessments (CSA) are a mechanism to drive accountability across the organization and seek positive assurance from line management on internal controls. Self Assessments are a key tool to support a robust CEO, CFO certification process.
Key questions that CSA helps you answer:
- Are your controls operating as designed? - Ownership and accountability for risk and control is embedded into the business
How is control performance being monitored? - The ability of employees to identify risks, evaluate controls and identify areas of improvements.
Are control weaknesses being reported and actioned effectively? - Understanding issues, benchmarking multiple sites, operational areas and regions, and effectively resolving identified issues.
- Embeds controls conscious culture in the organization
- Drives compliance with laid down policies and procedures
- Instills a culture of self-accountability across the organization and reduces independent testing efforts
- Prioritizes independent testing efforts in high risk areas
- Enables benchmarking business units against each other and against leading industry practices
- Enables reduction of manual effort and costs.
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