Assurance and Compliance engagements (Part 2, Unit 2)

Question 1

What are the 3 methods of CSA (Control Self-Assessment)?

Answer 1

1. Facilitation
2. Survey / Questionare
3. Self-Certification Approach

Question 2

What is Self-Certification Approach?

Answer 2

Management self declare.
Management-produced analyses to produce information about selected management activities and control procedures.

Question 3

What are the types of Assurance engagements?

Answer 3

1. Financial (assertions)
2. Operational (E,E & E)
3. Compliance (conformance to established laws, standards, regulations)
4. IT
5. CSA (Control Self-Assessment)

Question 4

What are the other types of Assurance Engagements?

Answer 4

1. External Business Relationships (“right to audit”)
2. 3rd party audites (ISO)
3. Contract Audits (escrow)
4. Privacy Audits
5. Performance (KPI, BSC)
6. TQM (Total Quality Management) (from the source, preventive)