Which of the following statement INCORRECTLY describes the Control self-assessment (CSA) approach?
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A. B. C. D.A.
The word INCORRECTLY is the keyword used in the question.
You need to find out an option which incorrectly describes Control Self-assessment.
For your exam you should know the information below about control self-assessment: Control self-assessment is an assessment of controls made by the staff and management of the unit or units involved.
It is a management technique that assures stakeholders, customers and other parties that the internal controls of the organization are reliable.
Benefits of CSA - Early detection of risk - More efficient and improved internal controls Creation of cohesive teams through employee involvement Developing a sense of ownership of the controls in the employees and process owners, and reducing their resistance to control improvement initiatives Increased employee awareness of organizational objectives, and knowledge of risk and internal controls Highly motivated employees - Improved audit training process - Reduction in control cost - Assurance provided to stakeholders and customers Traditional and CSA attributes - Traditional Historical CSA - Assign duties/supervises staff Empowered/accountable employees Policy/rule driven Continuous improvement/learning curve Limited employee participation Extensive employee participation and training Narrow stakeholders focus Broad stakeholders focus Auditors and other specialist Staff at all level, in all functions, are the primary control analysts The following answers are incorrect: The other options specified are correctly describes about CSA.
Among the given options, statement A incorrectly describes the Control self-assessment (CSA) approach.
Control Self-Assessment (CSA) is a method of internal control that involves the use of various techniques and processes to evaluate the effectiveness of an organization's control systems. It is a collaborative approach that empowers and engages employees at all levels to identify risks and control deficiencies, and provides a platform for continuous improvement.
Now let's look at each of the given options and how they relate to CSA:
A. CSA is policy or rule-driven: This statement is incorrect. CSA is not just about policies or rules. It is a process of self-assessment and evaluation that helps organizations identify and improve their control systems. While policies and rules may form the basis for CSA, they are not the only focus.
B. CSA empowered/accountable employees: This statement is correct. CSA relies on empowered and accountable employees to identify and evaluate control systems. The aim is to encourage employee participation and ownership of the control process.
C. CSA focuses on continuous improvement/learning curve: This statement is correct. CSA is a continuous process of improvement and learning. It is designed to help organizations identify weaknesses and areas for improvement in their control systems and implement necessary changes.
D. In CSA, staff at all levels, in all functions, are the primary control analyst: This statement is correct. CSA involves staff at all levels, in all functions, in the control analysis process. By involving employees from different departments, organizations can gain a better understanding of their control systems and identify areas for improvement.
Therefore, the incorrect statement is A. CSA is not just policy or rule-driven; it is a process of self-assessment and evaluation that involves various techniques and approaches.