USE OF CONTROL SELF-ASSESSMENT IN AUDITS

Control self-assessment (CSA) is an effective tool that many organizations use to continually improve their internal control systems and business processes. Many internal auditing departments use CSA to fulfill internal auditing objectives, and the Institute of Internal Auditors has published detailed guidance on the subject. Independent auditors, however, have largely ignored the benefits of CSA, despite its effectiveness as a source of audit evidence for many of the difficult-to-audit "soft" areas that are a salient component of internal control systems. In addition, CSA can be helpful in understanding a business or industry, setting control and inherent risks, and generating valuable recommendations.