Root Cause Analysis Handbook: A Guide to Efficient and Effective Incident Investigation
ABS Consulting Group and Rothstein Associates Inc.
Root cause analysis (RCA) is a class of problem solving methods aimed at identifying the root causes of problems or events. It would seem that this process lends itself to internal auditing but in reality there are several schools of thought as to whether this in actuality is a management responsibility. Perhaps this debate has been put to rest with the Institute of Internal Auditors (IIA) release of Practice Advisory 2320-2: Root Cause Analysis. According to the Practice Advisory:
Auditors whose reporting only recommends that management fix the issue — and not the underlying reason that caused the issue — are failing to add insights that improve the longer-term effectiveness and efficiency of business processes and thus, the overall governance, risk, and control environment
Root cause analysis is now considered a core competency for internal auditors. For this reason the Root Cause Analysis Handbook represents an important tool in the arsenal of resources for auditors. The book provides a detailed step by step process using an industry proven method for identifying the cause(s) of incidents. Auditors should use this book to familiarize themselves with the process and then apply it to every condition observed to identify what caused that condition, an important component of the elements of a finding. In addition to the excellent material in the publication there is also a companion Website and a CD-ROM with tools and resources to help. Valuable tools include the SOURCE™ Investigator’s Toolkit, Excel templates, sample documents and more.
This publication earns an AuditNet® Buy Recommendation as an addition to your professional library.
JK June 2012