ICS orientation

Which of the following is NOT a component of Internal Control?

• Control Environment

• Auditing Procedures

• Control Activities

• Information and Communication

• Monitoring and Evaluation

Which of the following is NOT an Internal Control Objectives?

• Compliance to Laws, Rules, and Regulations

• Adherence to Managerial Policies

• Risk Assessment

• Ensure Efficient, Effective, Economical, and Ethical Operations

• Safeguard Assets

Which of the following terms refers to the process of gathering,  analysing, interpreting information about existing internal controls in an  organization to achieve improvement of  systems and procedures towards achieving  strategic goals?

• Baseline Assessment of Internal Control System

• Internal Control Objectives

• Internal Control Components

• Internal Audit

Which of the following terms is the evaluation of management controls and operations performance and the determination of the degree of compliance with laws, regulations, managerial policies, accountability measures, ethical standards and contractual obligations?

• Baseline Assessment of Internal Control System

• Internal Control Components

• Internal Control Objectives

• Internal Audit

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

• Control Activities

• Risk Assessment

• Control Environment

• Information and Communication

Internal Quality Audit and Internal Audit are the same.

• True

• False