List the components of internal control. Briefly describe each component. Component Description Affirmative action Control environment Control procedures Employee education Information system Monitoring of controls Risk assessment List the components of internal control. Briefly describe each component. Component Description Accurate information is essential for success in business. Auditors can monitor a company's actions and its financial statements. Each company must evaluate its own risks, based upon its particular line of business. Specific procedures are needed for a good system of internal control. Top managers must set the "tone at the top" to establish a control environment Top managers distribute information to customers and employees. Top managers control the workload of employees