What is a control self-assessment (CSA)?

A control self-assessment (CSA) is best defined as a process for employees to evaluate internal controls and risk management practices. This approach empowers staff at various levels to actively participate in assessing the effectiveness of internal controls and identifying potential risks within their operational processes.

By involving employees in this self-assessment, organizations can gain valuable insights directly from those who are most familiar with daily operations and specific risks. This self-reflective approach fosters a culture of accountability and continuous improvement, as employees become more aware of the controls in place and how they relate to mitigating risks.

Furthermore, the participatory nature of CSA enhances communication between different levels of staff and management, encouraging a more informed and engaged workforce when it comes to risk management. This process ultimately leads to a more robust operational risk management framework, as it highlights areas of strength and potential vulnerabilities from an insider's perspective.