ch11 - Benchmarking ACT3642 1/2010 A.PhassawanS Agenda...

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ACT 3642 1/2010 A. Phassawan S Benchmarking
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Agenda Importance of Control Self-Assessments (CSAs) CSA Model Launching the CSA Process Evaluating CSA Results Benchmarking
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Importance of CSAs CSAs are internal audit-led processes for ongoing internal controls improvements. Normally internal auditors will visit an area of operations and perform a formal internal audit review. But, in a CSA , internal audit works with local team member in some areas, leading them in an effort ; to evaluate their current control procedures and then to use the control results to improve internal controls.
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Importance of CSAs COSO recommends that “Enterprises should report on the effectiveness and efficiency of [their] system of internal control” That internal control reporting can either be at a total enterprise level or can be limited to individual enterprise departments or functions. The CSA methodology is a process for IA function to look at its own controls or for helping others to review their internal controls. It has become a powerful tool for internal auditors and others to better understand internal control environment.
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Agenda Importance of Control Self-Assessments (CSAs) CSA Model Launching the CSA Process Evaluating CSA Results Benchmarking
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CSA Model CSA is a process designed to help departments within an enterprise assess and evaluate their internal controls. The CSA model say that “ an enterprise must implement strong control objectives and control activities to have an effective control environment.” These two elements are surrounded by a good system of information and communication as well as processes for risk assessments to monitor performance .
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Exhibit 11.1 CSA Process Information Communication and and Establish Control Environment Implement Control Activities Perform Risk Assess. Goals & Objectives Monitor Perform. CSA is a continuous improvement process. To establish and improve control environment. A team needs to establish goals and objectives, regarding controls Then to perform a risk assessment to better understand those deigned control risks To implement control activities to reduce risks And then to monitor the performance of these improved controls.
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Agenda Importance of Control Self-Assessments (CSAs) CSA Model Launching the CSA Process Evaluating CSA Results Benchmarking
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Launching the CSA Process CSA is a process through which internal control effectiveness is examined and assessed not by a team of outsiders (e.g. consultants or IA), but by people from within the function being assessed.
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ch11 - Benchmarking ACT3642 1/2010 A.PhassawanS Agenda...

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