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Risk and Control Self-Assessment (RCSA) is a technique used
by internal audit whereby the manager and staff self-assess
their risks and controls. Because the managers and staff have
detailed knowledge of their operations, the auditor can accept
their judgment to a certain degree in identifying problems
and suggesting solutions. If the manager and staff are correct
in their self-assessment, extensive time is saved by the auditor.
The auditor can then reallocate the time saved from a traditional
audit approach to other important activities.
Besides being an efficient way to find and fix
problems, the RCSA has another benefit of developing an increased
understanding of risks and controls by the manager and staff.
Also, there is an increased understanding and acceptance that
the risks and controls are their responsibility and the RCSA
is a technique they can use on their own to continue to discharge
their responsibilities.
WC has conducted numerous RCSA session and the
Practice Leader of Internal Audit at WC has a CCSA designation
(Certification in Control Self Assessment).
WC can provide RCSA services to intact or cross-function
groups.
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