What is the major benefit of conducting a control self-assessment compared to a traditional audit?

Conducting a control self-assessment offers the major benefit of detecting risks sooner than traditional audits. This proactive approach allows organizations to engage employees at various levels in evaluating the effectiveness of controls and identifying potential risks. Self-assessments often rely on a more real-time perspective, as they are typically conducted by the individuals who are closest to the processes, enabling a more immediate recognition of issues.

By involving staff in the assessment, organizations can create a culture of accountability and continuous improvement. Employees are more likely to notice and report weaknesses in the controls they work with daily, leading to quicker remediation efforts. In contrast, traditional audits often occur at set times and may not capture issues that arose after the audit period or that were not visible during the audit.

The other choices relate to aspects of audits and resource management but do not capture the primary advantage of faster risk detection resulting from the engagement and ongoing monitoring inherent in control self-assessments.