Control Self Assessments
Today’s rapid and ever changing business environment requires a culture of dynamic risk management through effective internal controls to ensure an organisations’ objectives are achieved. Organisations should continuously assess their risks and the effectiveness of the controls mitigating these risks.
Controls Self Assessment
To achieve this, organisations need to implement Control Self Assessment (CSA) which is defined as an effective approach to identifying and managing areas of risk exposure, as well as highlighting potential opportunities.
CSA provides a framework for helping organisations to manage their risks to achieve their business objectives. In simple terms, CSA involves a structured approach to documenting business objectives, risks and controls and having operational management and staff assess the adequacy of controls.
Benefits of CSA
Implementing CSA successfully, requires people with the necessary experience in these type of projects to ensure the major benefits of CSA are achieved.
We can help you to:
- Obtain a clear and shared understanding of major activities and objectives of business units and processes.
- Foster an improved awareness of risk and controls among management and staff.
- Provide a flexible but structured approach to improving the controls framework through the organisation
- Enhance responsibility and accountability for risks and controls among management and staff.
- Highlight best practices and opportunities to improve business performance.
- Standardise and benchmark processes, where the same functions are performed in multiple locations.
- Help directors to meet their corporate governance responsibilities.
- Reduce the time and effort it takes for internal auditors to gather information on business units, and providing quicker focus on areas requiring attention.
Critical success factors
- Involving the right people in the organisation to support, foster and own the CSA process.
- Allocating sufficient time and resources to properly prepare for and carry out workshops and subsequent follow-up.
- Having adequately trained and experienced facilitators to conduct CSA workshops.
- Proper design of a structured but flexible CSA methodology that avoids the creation of overly simple or confusing checklists.
Our services are:
- Design CSA Methodology
There are many different CSA techniques that range from simple questionnaires, one-on-one interviews, facilitated workshops and automated solutions. We can assist in selecting the best approach to follow. - Develop CSA/CSA Facilitators’ Manuals
We can help develop and document your CSA policies, procedures and reporting formats in a practical CSA manual. - Provide CSA Training
Our training will give your management and staff the necessary understanding of CSA to support its implementation and acceptance in the organisation. - Provide CSA Facilitation Training
We can provide training workshops, training materials and on-the-job training for your CSA facilitators to provide the skills and knowledge necessary to run an effective CSA process.
- Project Management of the Implementation
We can provide experienced professionals to manage the implementation of CSA.
- Conduct CSA Workshops
We can help develop risk and control questionnaires and facilitate workshops to support the implementation of CSA and provide advice on risks and effective controls.
- Conduct CSA pilots
We can conduct CSA pilot projects to ensure effectiveness and support for CSA.
- Quality Assurance
We can review and access your current processes against best practices, prepare gap analyse and identify improvement opportunity.
- Assist Internal Audit
We can assist your Internal Audit to adjust their methodology, policies and procedures to more effectively audit the CSA process.
Our Team
We have a dedicated CSA team in our Internal Audit group which has performed many CSA assignments internationally and regionally. Our CSA team has access to industry and CSA specialists throughout our global network of PwC offices.
