Internal control sell-assessment (ICSA) is essential to understand how well risks are mitigated in an organisation, says Yves Dupont. Yves teaches at ICHEC, one of FERMA’s rimap® accredited bodies, and he will lead a masterclass on integrating the ICSA process with risk management.
According to Yves, integrating ICSA with risk management consolidates the importance of the risk manager’s position as a key second line of defence actor and will free more time for other actions. He explains that:
The ICSA process helps to integrate risk management into the business and promotes a partnership between the risk manager and operational management. It also increases the level of maturity of risk management.
ICSA challenges the operational management in the execution of mitigation actions and points of controls. It focusses on two aspects: design effectiveness and operational effectiveness. Design effectiveness leads the risk manager to better involvement in the business and its key enterprise risks. Operational effectiveness encourages the process owner to take more responsibility in enhancing the design of risk mitigation actions.
ICSA a risk management integration approach masterclass will takes place on Tuesday 17 October from 8.00-9.30.
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