7.Which one of the following is the iterative component of internal control system for mitigating risk of the entity? a.Control Environment b.Information and Communication c.Risk Assessment d.Monitoring Activities

8. Ahmed, during an audit engagement with XYZ Ltd found that the cashier of the company had committed fraud. In this case, what would be the nature of duty of Ahmed in respect of the detection of frauds in the accounting records?

a.No responsibility b.Depends on situation c.Secondary responsibility d.Primary responsibility