Which of the following BEST enables the timely identification of risk exposure?
A.
External audit review
B.
Internal audit review
C.
Control self-assessment (CSA)
D.
Stress testing
The Answer Is:
C
This question includes an explanation.
Explanation:
Control self-assessment (CSA) is a technique that enables business managers and staff to assess and improve the effectiveness of their own controls and risk management processes. CSA can best enable the timely identification of risk exposure, as it allows for continuous monitoring and reporting of risks by those who are closest to the business processes and activities. External audit review, internal audit review, and stress testing are also useful methods for identifying risk exposure, but they are not as timely as CSA, as they are performed periodically or on demand by external or internal parties whomay not have as much insight into the business operations and environment. References: ISACA CISA Review Manual 27th Edition, page 95.
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