3.What is monitoring? Identify the two major types of monitoring and explain how they could be used by management. I.Ongoing Evaluation II.Separate Evaluations
3.What is monitoring? Identify the two major types of monitoring and explain how they could be used by management. I.Ongoing Evaluation II.Separate Evaluations
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
LEARNING MATERIALS IS IN THE PICTURE
QUESTION
3.What is monitoring? Identify the two major types of monitoring and explain how they could be used by management.
I.Ongoing Evaluation
II.Separate Evaluations
PLEASE NO PLAGIARISM. I WILL GIVE UPVOTES AND COMMENTS. THANKS!
![e. Monitoring - as internal control is implemented, management should
monitor the operation of controls to provide assurance that all five
components (including the monitoring function itself) continue to operate
effectively. Monitoring activities may be ongoing, separate evaluations. Or
a combination thereof. Ongoing monitoring activities are often designed
into recurring activities such as sales and purchases. Separate
evaluations are often performed by internal auditors or other personnel
and often include communication of information about strengths and
weaknesses and recommendations for improving internal controls.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F32e4b6d2-e085-4827-a956-634ef1491f6b%2F52c9812a-6fbd-49e4-833e-059025086aa1%2Fm41b2wh_processed.png&w=3840&q=75)
Transcribed Image Text:e. Monitoring - as internal control is implemented, management should
monitor the operation of controls to provide assurance that all five
components (including the monitoring function itself) continue to operate
effectively. Monitoring activities may be ongoing, separate evaluations. Or
a combination thereof. Ongoing monitoring activities are often designed
into recurring activities such as sales and purchases. Separate
evaluations are often performed by internal auditors or other personnel
and often include communication of information about strengths and
weaknesses and recommendations for improving internal controls.
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