Question
James Smith is the president and CEO of YouTopia Products, a large health and beauty products manufacturer and distributor. In a recent meeting to
James Smith is the president and CEO of YouTopia Products, a large health and beauty products manufacturer and distributor. In a recent meeting to assess and improve internal controls, top management considered several control principles and potential applications of these principles. Part 1: For each listed internal control principle, write in the correct corresponding component of the COSO Internal Control Integrated Framework (No abbreviations. Capitalization do not matter) Part I: Select the correction application of the control from the list below. Not all applications will be used Internal control principles 1. The organization shares information about internal control with external parties 2. The organization selects, develops, and performs evaluations to assess the extent to which internal control components are present and functioning 3. The organization selects and develops control activities that mitigate risks associated with achieving rea acceptable levels Part 1-(Write the component) Part -Select the correct application from the list below. Write the letter) Select the correct application from this list to match with the principle above. Not all choices will be used. Each principle will have only 1 match A YouTopia forms an internal team to assess the potential effects of a hurricane on its manufacturing and dribution operations B. YouTapia sends information about attempted system penetration to an industry aveciation that works to improve cybersecurity C. An automated function in YouTepia's accounting system checks and edits entered data D. YouTopia invernal audit function gathers and evaluates reports of accidents and injury reconds from manufacturing sites. This information is used to assess the presence and qty of an and Injury contras
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