Which of the following is not one of the elements of a good system of internal control? a.Control environment b.Analysis of control procedures c.Information and communication d.Risk assessment

Q: Following is a list of internal controls. Select the COSO component that best matches each internal…

A: The COSO framework consists of five interrelated components that work together to help organizations…

Q: What does the Good internal control helps ensure?

A:

Q: Look at the definition of “internal control” For each internal control objective, what does it cover…

A: Introduction: Internal control refers to the controlling mechanism and efficiency measurement…

Q: explain the importance of internal control procedures.

A: Internal control: Whatever be kind of control, whether economic or related to the management or any…

Q: Which of the following is an element of the Oa. Risk assessment plans Ob. Managements' operating…

A: The right answer is b Management's operating styles

Q: Which of the following i not an element of internal control?A. Control environmentB. MonitoringC.…

A: Internal control can be defined as the process of persuading the objectives of the organization such…

Q: Distinguish between inherent risk and control risk. How do internal controls affect inherent risk…

A: Audit Risk: The risk of issuing an unqualified audit report due to failure in detecting material…

Q: Which of the following is not true concerning control activities? a.Control procedures is another…

A: Control activities relate to those activities designed to reduce the chances of risk and failure…

Q: Describe how the nature of evidence used to evaluate the control environment differs from the nature…

A: ANSWER:- For many control activities, documentation of their performance is more objectively…

Q: Describe how the nature of evidence used to evaluate the control environment differs from the nature…

A: The control environment is the set of standards, procedures, and processes that help ensure the…

Q: What are objectives? What three categories of objectives are set forth in the COSO framework?

A: COSO ERM framework defines internal control in an organisation as “a. process, effected by an…

Q: Which of the following is not one of the components of internal control according to the framework?…

A: Internal control means the way to doing the work and reducing the risk to any loss. Sound internal…

Q: Which one of the following is not included in the control environment? a. Integrity & Ethical…

A: The correct option with proper explanation are as follow

Q: What is the link between the internal control environment and accountability?

A:

Q: Internal controls are perhaps the most important tools for managing operational risk. What are…

A: Internal control refers to the rules, policies, processes developed by the management which need to…

Q: Discuss the objectives of the risk management process. Why should you follow a regimented and well…

A: Risk management is a strategy for preventing and controlling dangers to a company's operations. It…

Q: Reasonable assurance that the objectives of internal control are achieved depends on the competence…

A: The question is related to Auditing. Resonable assurance means a high level of assurance regarding…

Q: _____, which constitute one of the most important elements of internal control, include separating…

A: Explanation: Internal control systems need to be monitored - a process that assesses the quality of…

Q: According to Simon (1999) the most appropriate Lever of Control to address a lack of opportunity or…

A: Robert Simons (1995) developed The Levers of Control to provide managers in large corporations with…

Q: one of the components of internal control is the control activities;which are the policies and…

A: Control activities- These are the rules and processes that assist management in attaining its…

Q: Which of the following statements best describes the phrase, “evaluating the design of a control”?…

A: "Evaluating the design of control" means Considering whether the control, individually or in…

Q: The internal audit function is part of what element of the internal control system? a.Risk…

A: Five elements of internal control system are: 1. Risk assessment 2. Control activities 3. Control…

Q: Assessing control risk begins with understanding entity-level controls.   a. True

A: Control risk is the risk that occurred due to the misstatement in the financial statement that would…

Q: II. The following list presents various internal control strengths (S) or risks (R) that may be…

A: Introduction: Internal control: Internal control can be defined as the rules and regulation…

Q: ABOUT AUDITING The process of selecting and developing policies and procedures to help mitigate…

A: Audit Risk- Audit risk is the possibility that an auditor will issue an incorrect opinion on…

Q: What element of internal control would include the setting of "tone at the top"? a.control…

A:

Q: In which element of Internal Control are personnel policies included: Control Procedures Control…

A: Personnel policies outline the hiring procedure, including whether they should be tested first,…