17. As an auditing student you have gained the understanding to the Internal Control System and its Components. Choose component of internal control system which involves setting up of the standards, structures and processes. a.Risk Assessment b.Control Environment c.Information and Communication d.Monitoring Activities

18. ___________covers all the business transactions and relevant financial details that can make a difference in the decisions of the stakeholders.

a.Book-keeping b.Auditing c.Accounting and Financial Reporting d.All the given options