Question

Which phrase best describes the control-based approach of the control self-assessment process?

A. Examining how well controls are working in managing key risks.
B. Determining the cost effectiveness of controls.
C. Evaluating, updating, and streamlining selected control processes.
D. Analyzing the gap between control design and control frameworks.

Answer 1

The control-based approach of the control self-assessment process involves evaluating, updating, and streamlining selected control processes to manage key risks.

Step-by-step explanation:

The control-based approach of the control self-assessment process refers to evaluating, updating, and streamlining selected control processes (option C). This approach involves assessing the effectiveness of controls in managing key risks and making improvements where necessary.