To prevent farmers from building up CISA reserves in excess of what is needed to cover even remote catastrophic losses, CISA balances would be capped at some maximum level.
The proposed CISA system goes one step further in reducing potential moral hazard problems: if a farmer chooses to take on higher risks, he or she is risking his or her own money, not the insurer's money.
Under CISA, the overseeing agency would establish revenue guarantee levels and associated periodical contribution rates with the objective that only a small fraction of producers potentially end their farming careers with a negative account balance.
The proposed CISA system eliminates the need for annual premium subsidies to induce farmers to purchase a mispriced insurance plan.
The proposed CISA would alleviate these "favoritism" complaints since there are no government subsidies involved (except implicit tax subsidies) and the money producers are paying into their accounts actually belongs to them.
Regardless of the merit of the criticism of crop insurance being too expensive for some, the proposed CISA system has a distinct advantage: farmers keep their own money.
The CISA certification is awarded by the Information Systems Audit and Control Association and Foundation (ISACA).
The CISA certification is designed for professionals who audit information systems, but the certification would also be beneficial to individuals with an interest in auditing, control, and the security of information systems.
CPAs with the CISA credential also benefit from being associated with a globally recognized standard of achievement among IS audit, control, and security professionals and their employers.
The CISA credential has wider recognition than the AICPA's CITP designation.
The CISA examination is given annually in June, and may be taken in one of 10 languages.
The CISA is most useful for IT professionals with an accounting or auditing background.