Components of Internal Control

Which of the following is NOT a component of internal control?

• Control environment

• Risk assessment

• Control activities

• Auditing procedures

Which component of internal control is concerned with establishing a positive and ethical work environment?

• Control environment

• Risk assessment

• Control activities

• Information and communication

• Monitoring Activities

Which component of internal control involves identifying and analysing potential risks to the organisation?

• Control environment

• Risk assessment

• Information and communication

• Control Activities

• Monitoring Activities

Which component of internal control involves ensuring that information is accurate, complete, and timely?

• Control Environment

• Risk Assessment

• Information and communication

• Control activities

• Monitoring activities

Which component of internal control involves establishing and maintaining appropriate records and documentation?

• Control Environment

• Risk Assessment

• Information and communication

• Control Activities

• Monitoring Activities

Which component of internal control involves the policies and procedures put in place to mitigate identified business risks?

• Control Environment

• Risk Assessment

• Information and communication

• Control Acitivities

• Monitoring of controls