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Statements Answer 1 . Under COSO, the control environment, risk assessment, the accounting information and communication system, control activities and monitoring are referred to as

Statements Answer
1. Under COSO, the control environment, risk assessment, the accounting information and communication system, control activities and monitoring are referred to as the __________ of internal control.
2. The Foreign Corrupt Practices Act of 1977 prohibits __________ to foreign officials to obtain business and requires companies to maintain an effective system of internal control.
3. No single employee in a company should have incompatible __________ allowing the employee to both perpetrate and conceal errors or fraud in the normal course of performing his or her job.
4. The two broad categories of information processing controls are __________ and application controls.
5. Controls that rely on segregation of duties may be circumvented by __________ among employees.
6. A client's __________ environment includes such components as management philosophy and operating style, and organizational structure.
7. A form of insurance in which an insurance company agrees to reimburse an employer for losses attributable to employee theft is referred to as __________.
8. The auditors of a service organization, known as service auditors, may review the controls at the organization and issue a report that may be relied upon by __________ auditors.
9. Auditors are required by professional standards to communicate __________ and material weaknesses to the audit committee.
10. One or more __________ in internal control result in an adverse opinion on internal control.

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