Control Environment- sets the tone of an organization, influencing the control consciousness of its people. It is the foundation of all other components of internal control, providing discipline and structure.
Risk Assessment- is the entity’s identification and analysis of effective risks to the achievement of its objectives, forming a basis for determining how the risks should be managed.
Control Activities- are the policies and procedures that help ensure that management’s directives are carried out.
Information and Communication system- support the identification capture and exchange of information in a form and time frame that enable people to carry out their responsibilities.
Monitoring- is the process that assesses the quality of internal control performance over time.
No comments:
Post a Comment