A risk evaluation approach. A subjective process of identifying risks, assessing the likelihood that they will occur and estimating the impact if they do occur. Although self assessment can be applied to any risk, it is primarily applied to operations risk - especially for the quantification of operations risk under Basel II guidelines. Self assessment is a major element in COSO.
See Basel II, COSO and operations risk. American Banker Glossary

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self-assessment self-assessment assessment

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self-assessment UK US /ˌselfəˈsesmənt/ noun
[U] TAX a system for people to calculate for themselves how much income tax to pay: »

New guidelines are being published for self-assessment this tax year.


Make sure that you have submitted your self-assessment tax return by 31 January.

[C or U] HR, WORKPLACE a judgment made by an employee about their own work, abilities, etc., or the process of doing this: »

Despite these achievements, she was humble in her self-assessment.


Managers are regularly asked to carry out self-assessment exercises.

Financial and business terms. 2012.

Look at other dictionaries:

  • Self-assessment — in an organizational setting , according to the EFQM definition, refers to a comprehensive, systematic and regular review of an organization s activities and results referenced against the EFQM Excellence Model. The Self Assessment process allows …   Wikipedia

  • self-assessment — ► NOUN 1) assessment of oneself or one s performance in relation to an objective standard. 2) calculation of one s own taxable liability …   English terms dictionary

  • self-assessment — A system that enables taxpayers to assess their own income tax and capital gains tax liabilities for the year. Major changes to the UK system occurred in the year 1996 97, since when a self assessment section has been contained in the tax return …   Big dictionary of business and management

  • self-assessment — A system in which taxpayers are responsible for assessing and paying the correct amount of tax on set dates. In the UK, payments are normally made in two instalments, on 31 January and 31 July each year. Any balance due is settled the following… …   Accounting dictionary

  • self-assessment — N SING In Britain, self assessment refers to a system for paying tax in which people have to fill in an official form giving details of how much money they have earned in the previous year …   English dictionary

  • self-assessment — self as sessment n [U] 1.) when you judge your own work or progress 2.) BrE when someone who works for themselves calculates how much tax they should pay …   Dictionary of contemporary English

  • self-assessment — UK [ˌselfəˈsesmənt] / US noun [uncountable] 1) when you judge the quality of your own work and how much progress you have made 2) British when someone who is (= self employed) works out how much tax to pay the government …   English dictionary

  • Self-Assessment — Unter Selbstbewertung versteht man: in der Kognitionspsychologie die Tatsache, dass Menschen ihr eigenes Verhalten und Handeln nach eigenen Kriterien, Werten und Normen bewerten können und sich somit auch selbst steuern können. in der Wirtschaft …   Deutsch Wikipedia

  • self-assessment — noun 1》 assessment of oneself or one s performance in relation to an objective standard. 2》 Brit. calculation of one s own taxable liability …   English new terms dictionary

  • self-assessment — n. * * * …   Universalium