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Process Performance Self Assessment
Astral's dynamic self-assessment approach that leverages organizational knowledge to improve business performance at the entity or process level. Utilizing risk as its foundation, PPSA uniquely integrates the assessment of strategic objectives, risks, controls and process-improvement opportunities.
The process through which Management and Process Owners along with the Internal Auditors assess the extent to which their current practices are sufficient and appropriate to achieve their strategic objectives and there is a continuous Risk Monitoring mechanism.
MEANS METHODS AND OUTCOME
Process Performance Self Assessment (PPSA) is Astral's
dynamic self-assessment approach that leverages
organizational knowledge to improve business performance
at the entity or process level. Utilizing risk as its foundation,
PPSA uniquely integrates the assessment of strategic
objectives, risks, controls and process-improvement
opportunities.
FEATURES
- Renders Excellent Corporate Governance through Self Assessment, the adherence of which will be a pleasant experience to everyone in the organization
- Self-assessment is the process through which Management and Process Owners along with the Internal Auditors assess the extent to which their current practices are sufficient and appropriate to achieve their strategic objectives and there is a continuous Risk Monitoring mechanism
- PPSA will help organizations create a risk database, strategize risk assessment methodology, streamline documentation procedures and evaluate residual risk
| RESPONSIBILITIES | TRADITIONAL APPROACH PPSA | APPROACH |
| Setting business objectives | Management | Management |
| Assessing risks | Management | Management |
| Adequacy of internal controls | Management | Management |
| Evaluating risks and controls | Auditors | Work teams |
| Reporting Auditors Work | Auditors | Work teams |
| Validate evaluation of risks and controls | Auditors | Auditors |
| Objectives used | Audit's | Management |
 Benefits
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Assurance