ntity does not use plastic because it knows that its customer base is sensitive to pollution issues. * Identify whether A. Avoidance B. Mitigation C. Acceptance
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The entity does not use plastic because it knows that its customer base is sensitive to pollution issues. *
Identify whether
A. Avoidance
B. Mitigation
C. Acceptance
Step by step
Solved in 2 steps
- Which of the following is not a component of internalcontrol?a. Environmental assessmentb. Control activitiesc. Information and communicationd. Monitoring activitiesDiscuss the objectives of eliminating receiving functions. Also, discuss the accounting and audit problems need to be resolved.Discuss the objective of eliminating the receiving function.What accounting/audit problems need to be resolved?
- The risk associated with inefficient use of inputs or over-provision of services is ⚫ A. An actuarial risk • B. A utilization risk⚫ C. A cost risk. D. A financial riskWhy does scope creep create risk in independence? Select all that apply It can create an unfair advantage in the marketplace. It can decrease costs. It can lead to unintentionally providing a prohibited service to a restricted entity. It can cause non-compliance with KPMG policies on independence.Which of the following is NOT true of a turn- around document? a. They may reduce the number of errors made by external parties. b. They are commonly used by utility companies (gas, power, water). c. They are documents used by internal parties only. d. They are both input and output documents.
- Mechanisms used for reporting non-compliance and identifying risk issues can include which of the following? O Balanced scorecard O Whistleblower hotline O Code of conduct O Environmental costingWhich is not an organization's response to risks? *a. An organization may accept the risk if it is prepared to absorb or mitigate the impact of the risk.b. An organization may take the risk but tries to lower the impact and possibility of occurrence of the risk.c. An organization may take the risk but not the returns that come with it.d. An organization may opt not to take the risk by avoiding the activity with associated risk.5) What are common limitations of Internal Controls? a) Human Error b) Human Fraud c) Cost-Benefit Principle d) A, B, and C e) A and B only
- Which statement is incorrect concerning the constraint on relevant and reliable information? * A. Information may be relevant but so unreliable in nature or representation that its recognition may be potentially misleading. B. The balance between benefit and cost is a pervasive constraint which means that the benefits derived from the information should exceed the cost of providing it. C. If there is undue delay in the reporting of information, it may lose its relevance and reliability. D. In achieving a balance between relevance and reliability, the overriding consideration is how best to satisfy the economic decision-making needs of users.Which of the following i not an element of internal control?A. Control environmentB. MonitoringC. Compliance with laws and regulationsD. Control procedures2. Assessing control risk begins with understanding entity-level controls. a. True b. False
