1B. Match the items with the related statements that follow. . Control environment -. Risk assessment - Control activities . Information and communication - Monitoring 1. The company has an internal audit department. 2. Management encourages employees to follow the rules. 3. Management regularly considers what losses the company might face. 4. Management puts separation of duties in place. 5. The company gathers appropriate information and communicates it to employees. 6. Personnel are well trained and instructed in their duties. 7. The company employs good physical controls. 8. Managers are observant and review how procedures by those who report to them are carried out. 9. The company has a good accounting system.
1B. Match the items with the related statements that follow. . Control environment -. Risk assessment - Control activities . Information and communication - Monitoring 1. The company has an internal audit department. 2. Management encourages employees to follow the rules. 3. Management regularly considers what losses the company might face. 4. Management puts separation of duties in place. 5. The company gathers appropriate information and communicates it to employees. 6. Personnel are well trained and instructed in their duties. 7. The company employs good physical controls. 8. Managers are observant and review how procedures by those who report to them are carried out. 9. The company has a good accounting system.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Match the items with the related statements that follow.
Transcribed Image Text:E1B. Match the items with the related statements that follow.
a. Control environment
b. Risk assessment
c. Control activities
d. Information and communication
e. Monitoring
1. The company has an internal audit
department.
2. Management encourages employees to
follow the rules.
3. Management regularly considers what
losses the company might face.
4. Management puts separation of duties
in place.
5. The company gathers appropriate
information and communicates it to
employees.
6. Personnel
instructed in their duties.
7. The company employs good physical
controls.
are well trained and
8. Managers are observant and review
how procedures by those who report
to them are carried out.
9. The company has a good accounting
system.
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