ASSESSING THE CONTROL ENVIRONMENT LESLIE CORPORATION: One important component in an organization's system of Internal Control is the "Control Environment". Below are some facts about the Control Environment at Leslie Corporation. Management and Board of Director members at Leslie communicate and encourage adherence to and knowledge of company policies for themselves and all employees. The Board of Directors meets monthly, with all 7 Directors being independent of management. Furthermore, all 7 Directors are experienced in management in other companies (earlier in their careers) and have extensive experience in Leslie's industry. At levels below the senior management team, Leslie has adopted a "cost-reduction" strategy whereby employees are hired at the lowest possible salaries (and therefore tend to be inexperienced or un-skilled, and often both). Leslie is satisfied the salary cost savings are greater than any cost associated with employees who often do not have the competencies to fulfill their job responsibilities. REQUIRED: Comment on the control environment at the company using the facts presented. Ensure you state WHY a fact is a positive or a negative element of the Control Environment. Ensure you make a conclusion on the state of the control environment