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Select from the option list provided to indicate the component of internal control that relates to each scenario listed below. Each choice may be used once, more than once, or not at all.

Scenario	Component of internal control
1. XYZ Corporation discovered that its managers lacked an understanding of the company's key objectives. To solve this problem, the board and senior management restated the key objectives in clear and concise terms and then attached the restated objectives to internally distributed financial statements.
2. During an internal audit of XYZ Corporation, the internal auditors discovered that the controls over information processing and financial statement preparation were inadequately designed. The chief audit executive immediately brought this matter to the attention of the audit committee and recommended corrective actions.
3. XYZ Corporation has stringent policies over employee selection and evaluation. The human resource manager first selects outstanding job candidates based on resumes. Then, each selected candidate is required to take a written test related to the desired position. Only the candidates who scored high on the test are invited to interview. Employees are required to be evaluated by their managers every 3 months. The outstanding employees are given a salary raise or a promotion. Managers also provide feedback to address the areas in which employees need to improve.
4. XYZ Corporation performed a semiannual entity-wide survey of its employees to gather data about their personal conduct in relation to the company's code of conduct.
5. XYZ Corporation has recently opened several new factories in Florida because senior management determined that the new factories will significantly reduce costs and boost profits. However, the area in Florida is prone to hurricanes. Therefore, XYZ purchased $1 million in hurricane insurance.
6. XYZ Corporation's computer system for encrypting messages requires each employee sending a message to choose a different random set of letters or phrase every morning. The letters or phrase must contain at least 10 characters and include at least one upper case letter, one lower case letter, one number, and one special character.
7. XYZ Corporation's principal accountant recently proposed the use of new financial management software because it is significantly less expensive than the current software. However, senior management discovered that the new software is difficult to use and could create errors and untimely financial reports. Thus, upon approval of the new software, senior management mandates that all accountants successfully complete a training program for the new software prior to its use.
8. XYZ Corporation implements specific procedures over its cash disbursement process. The Treasurer reviews supporting documents for accuracy and submits check request forms and supporting documents to the Chief Financial Officer (CFO). The CFO approves the check request and submits the check request forms and supporting documents to the accounts payable department. The accounts payable department then prepares an unsigned check and records the check in the accounting records. The CFO receives the unsigned check from the accounts payable department and compares the check with the check request form. The CFO then signs the check and sends it to the Treasurer, who is responsible for mailing the signed check.
9. Quarterly, management evaluates whether the supervisors performing the review and approval of accounts payable are properly trained and knowledgeable and are performing in accordance with the process design.
10. In XYZ Corporation, the production, marketing, human resource, and IT departments are managed by the Chief Operating Officer (COO). The accounts payable, payroll, and credit departments are managed by the Chief Financial Officer (CFO). Each department head reports to the person who is responsible for the department (COO or CFO). The COO and CFO directly report to the Chief Executive Officer (CEO). Help me