Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For questions #10 15, indicate which internal control component is related to the following principles Components Control Activities Monitoring Activities Information & Communication Control Environment
For questions #10 15, indicate which internal control component is related to the following principles
Components
- Control Activities
- Monitoring Activities
- Information & Communication
- Control Environment
- Risk Assessment
Principles
- The organization obtains or generates and uses relevant, quality information to support the functioning of internal control.
- The organization holds individuals accountable for their internal control responsibilities in the pursuit of objectives.
- The organization selects, develops, and performs ongoing and/or separate evaluations to ascertain whether the components of internal control are present and functioning.
- The organization identifies and assesses changes that could significantly impact the system of internal control.
- The organization demonstrates a commitment to integrity and ethical values.
- Management establishes, with board oversight, structures, reporting lines, and appropriate authorities and responsibilities in the pursuit of objectives.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started