one of the components of internal control is the control activities;which are the policies and procedures that help ensure that necessary actions are taken to address risks to the achievement of the entity objectives. what are the most important control activities (explain each of these control activities)?

Q: Identify each of the following as a (a) purpose of an internal control system, (b) principle of…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: All of the following are components of internal control except Monitoring The information and…

A: Internal controls are implemented to prevent fraud in an organization. These are the rules or…

Q: For an enterprise wide risk management program to be most effective, it should be led by which of…

A: Risk management program An organization's structured procedure for identifying, evaluating, and…

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…

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A: Internal control system in an organisation means ensuring the fulfilment of objectives of the…

Q: The most important fundamental component of an entity’s internal control isa. Effectiveness and…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: explain the importance of internal control procedures.

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Q: Transactions need to be classified appropriately. This internal control objective relates to all of…

A: Internal control objectives are desired goals or conditions which we want a system to satisfy. The…

Q: Which of the following are true regarding internal auditors and the adequacy of an organization’s…

A: Answer: I. Internal auditors must understand the risk assessment process and the tools used to make…

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: Why an internal control system can only provide reasonable assurance on the achievement of an…

A: Internal Control is the process designed, implemented and maintained by those  charged with…

Q: Explain implementation and maintenance of adequate internal controls.

A: Internal Controls: Internal controls are the controls established within an organization to check…

Q: What is the definition of internal control, and what are thefive components of COSO’s internal…

A:

Q: Which of the following is not part of the control process? a) Monitoring of actual activity b)…

A: Control Process Control process begins after the planning function is done Controlling basically…

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: List and explain briefly the phases of an internal control evaluation.

A: Internal controls are indeed defined as the measures put in place by a corporation to secure its…

Q: taining in

A: Managerial Responsibilities entail being in charge of the overall management of a work unit (or…

Q: Identify each of the following as a (a) purpose of an internal control system, (b) principle of…

A: Internal control system: Internal control system is a set of policies, procedures established to…

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 among the following is not a principle relating to control activities? a. Management designs…

A: Internal control procedures are those procedures which are implemented for the fulfilment of…

Q: Enterprise risk management A. Guarantees achievement of organizational objectives. B. Requires…

A: Enterprise risk management :-  It provides framework for risk management. It Involves the…

Q: What are management’s and auditors’ respective responsibilities regarding internal control?

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Q: List at least five control measures per control activity principle (Establishment of Responsibility,…

A: Here is the Answer

Q: g? and How it apply to the company?

A: Strategic systems auditing involves the auditing team gaining high-level knowledge of the business,…

Q: The basic components of an organization's internal control are:                 Select one: a.…

A: Internal control is a system of organizing the company in which a set of rules, policies, and…

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: Which of the following elements of internal control includes maintaining records of employees…

A:

Q: Define and describe what is meant by internal control.

A: Internal control:   Internal control can be defined as a process to ensure achievement of the…

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: The attitudes and actions of those charged with governance concerning an entity's internal control…

A: Control activities involves policies and procedure taken by the management to minimize risk. It…

Q: Section 404 requires management to make a statement identifying the control framework used to…

A: Internal Control:   Internal control involves the norms and standards followed by company to…

Q: The Committee of Sponsoring Organizations (COSO) explains the importance of the control environment…

A:

Q: Among the five components of internal controls namely, control environment, risk assessment,…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: What are the three goals of an internal control system according to the COSO report? Which of…

A:

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: The quality of the environment in which internal control operates has a pervasive effect on many…

A: Concept Pervasive effect               Pervasive effect means that the effect is spread to most of…

Q: The objectives of internal control are to

A: Internal control: Internal control is a process which ensures continuous reliability of…

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

A:

Q: Which of the following is NOT included in the concept of internal control? O entity's resources O…

A: Internal controls are the set of rules and procedures through which an entity ensures integrity and…

Q: the system in risk analysis and internal control

A:

Q: Which of the following is not one of the components of COSO’s framework? A. Objective setting which…

A: COSO's Framework: It implies to a framework that includes the division of company's internal…