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Match the following primary components of internal control systems with their descriptions. Responsibility of top management to set the tone, making it clear that the

Match the following primary components of internal control systems with their descriptions.

Responsibility of top management to "set the tone," making it clear that the organization values integrity and will not tolerate unethical behavior.

Answer 1Choose...Control environmentControl activitiesMonitoringInformation and communicationRisk assessment

Capturing and communicating information within the organization and with interested external parties.

Answer 2Choose...Control environmentControl activitiesMonitoringInformation and communicationRisk assessment

Identify, analyze and manage the various factors that may make the company vulnerable.

Answer 3Choose...Control environmentControl activitiesMonitoringInformation and communicationRisk assessment

Designing policies and procedures to address specific risks faced by the company.

Answer 4Choose...Control environmentControl activitiesMonitoringInformation and communicationRisk assessment

Reporting deficiencies and inefficiencies of internal control system to top management and/or board of directors.

Answer 5Choose...Control environmentControl activitiesMonitoringInformation and communicationRisk assessment

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