Match each of the following components of internal control with its description.
Components of Internal Control
________ 1. Control environment
________ 2. Risk assessment
________ 3. Control activities
________ 4. Information and communication
________ 5. Monitoring
Descriptions
a. Procedures for maintaining separation of duties.
b. Routine activities that are meant to continually observe internal control activities.
c. Transfer of data from lower managers to top executives for accurate financial reporting.
d. Formal policies to evaluate internal and external threats to achieving company objectives.
e. Overall attitude of the company with respect to internal controls.