17 Internal Control Principles Flashcards
1
Q
Control Activities
A
- Selects and develops control activities
- Selects and develops general controls over technology
- Deploys through policies and procedures
2
Q
Risk Assesment
A
- Specifies suitable objectives
- Identifies and analyzes risk
- Assesses fraud risk
- Identifies and analyzes significant change
3
Q
Information & Communication
A
- Uses Relevant Information
- Communicates Internally
- Communicates Externally
4
Q
Monitoring
A
- Conducts ongoing and/or separate evaluations
- Evaluates and communicates deficiencies
5
Q
Control Environment
A
- Demonstrate commitment to integrity and ethical values
- Exercises oversight responsibility
- Establishes structure, authority, and responsibilities
- Demonstrates commitment to competence
- Enforces Accountability
6
Q
Internal Control Objective (ACE)
A
Reporting Objectives
Compliance Objective
Operational Objective
7
Q
A
