AUD 3 Internal Control 6 - 5 Components of Internal Control (CRIME)

Question 1

5 Components of Internal Control

AU-C 315 requires the auditor to ob____ an understanding of all 5 components of internal control under COSO

in order to evaluate the design of relevant controls
and determine
whether they have been implemented;
assess the risk of material misstatement;
and design the nature, timing and extent of further audit procedures.

Answer 1

5 Components of Internal Control

AU-C 315 requires the auditor to obtain an understanding of all 5 components of internal control under COSO

in order to evaluate the design of relevant controls
and determine
whether they have been implemented;
assess the risk of material misstatement;
and design the nature, timing and extent of further audit procedures.

Question 2

Elements of Internal Control: (CRIME)

1. Control Environment (CHOPPER)
2. Risk Assessment
3. Control Activities
4. Information and Communication
5. Monitoring

or

5 components of internal control
(CRIME)

• Control activities
• Risk assessment
• Information and communication
• Monitoring
• Control Environment

Answer 2

Elements of Internal Control: (CRIME)

1. Control Environment (CHOPPER)
2. Risk Assessment
3. Control Activities
4. Information and Communication
5. Monitoring

or

5 components of internal control
(CRIME)

• Control activities
• Risk assessment
• Information and communication
• Monitoring
• Control Environment

Question 3

Elements of Internal Control: (CRIME)

Control environment factors include (CHOPPER):

• Commitment to competence
• Human resource policies and practices
• Organizational structure
• Participation of those charged with Governance
• Philosophy of management and mgt operating style
• Ethical values and Integrity
• Responsibility assignment

Answer 3

Elements of Internal Control: (CRIME)

Control environment factors include (CHOPPER):

• Commitment to competence
• Human resource policies and practices
• Organizational structure
• Participation of those charged with Governance
• Philosophy of management and mgt operating style
• Ethical values and Integrity
• Responsibility assignment

Question 4

Elements of Internal Control: (CRIME)

E : Control Environment
Factors (CHOPPER)

• C = Commitment to competence
– Effective control requires a sincere interest on the part of the employees in performing good work.

• H = Human resource policies and practices
– A company can minimize the control difficulties created by new employees by sound hiring and training policies for employees.

• O = Organizational structure
– A company that operates all over the world has different internal control problems than one operating entirely within a single building.

• P = Participation of those charged with Governance
– An audit committee of the board of directors that actively monitors the internal audit function produces a more attentive management on such matters.

• P = Philosophy of management and mgt operating style
– The belief (or lack of it) in the importance of internal control by management will affect the seriousness with which it is taken by the rest of the employees. This is especially the case when decision-making in the company is dominated by a single individual.

• E = Ethical values and Integrity
– Honest employees will be less likely to cause internal control difficulties related to fraud and improve the opportunity for those resulting from errors to be effectively detected.

• R = Responsibility assignment
– The manner in which authority, responsibility and accountability is assigned to different employees determines the controls that will be needed. Again, the domination of decision-making by a single individual holds significance, since such power makes it extremely difficult for internal control to be trusted.

Answer 4

Elements of Internal Control: (CRIME)

E : Control Environment
Factors (CHOPPER)

• C = Commitment to competence
– Effective control requires a sincere interest on the part of the employees in performing good work.

• H = Human resource policies and practices
– A company can minimize the control difficulties created by new employees by sound hiring and training policies for employees.

• O = Organizational structure
– A company that operates all over the world has different internal control problems than one operating entirely within a single building.

• P = Participation of those charged with Governance
– An audit committee of the board of directors that actively monitors the internal audit function produces a more attentive management on such matters.

• P = Philosophy of management and mgt operating style
– The belief (or lack of it) in the importance of internal control by management will affect the seriousness with which it is taken by the rest of the employees. This is especially the case when decision-making in the company is dominated by a single individual.

• E = Ethical values and Integrity
– Honest employees will be less likely to cause internal control difficulties related to fraud and improve the opportunity for those resulting from errors to be effectively detected.

• R = Responsibility assignment
– The manner in which authority, responsibility and accountability is assigned to different employees determines the controls that will be needed. Again, the domination of decision-making by a single individual holds significance, since such power makes it extremely difficult for internal control to be trusted.

Question 5

Elements of Internal Control: (CRIME)

E : Control Environment

COSO has indicated that there 5 five principles related to the control env________.

Answer 5

Elements of Internal Control: (CRIME)

E : Control Environment

COSO has indicated that there are 5 principles related to the control environment.

They indicate that management and those charge with governance:

1. Demonstrate a commitment to integrity and ethical values;
2. Exercise their oversight responsibility;
3. Establish structure, authority, and responsibility;
4. Demonstrate a commitment to competence; and
5. Enforce accountability.

Question 6

Elements of Internal Control: (CRIME)

E : Control Environment

COSO has indicated that there are 5 prin_____s related to the control environment.

Answer 6

Elements of Internal Control: (CRIME)

E : Control Environment

COSO has indicated that there are 5 principles related to the control environment.

Question 7

Elements of Internal Control: (CRIME)

E : Control Environment

C___ has indicated that there are 5 principles related to the control environment.

Answer 7

Elements of Internal Control: (CRIME)

E : Control Environment

COSO has indicated that there are 5 principles related to the control environment.

Question 8

Elements of Internal Control: (CRIME)

E : Control Environment

COSO has indicated that there are 5 principles related to the control environment.

They indicate that ma_________ and those charge with governance:

Answer 8

Elements of Internal Control: (CRIME)

E : Control Environment

COSO has indicated that there are 5 principles related to the control environment.

They indicate that management and those charge with governance:

1. Demonstrate a commitment to integrity and ethical values;
2. Exercise their oversight responsibility;
3. Establish structure, authority, and responsibility;
4. Demonstrate a commitment to competence; and
5. Enforce accountability.

Question 9

Elements of Internal Control: (CRIME)

E : Control Environment

COSO has indicated that there are 5 principles related to the control environment.

They indicate that management and those charge with gov_________:

Answer 9

Elements of Internal Control: (CRIME)

E : Control Environment

COSO has indicated that there are 5 principles related to the control environment.

They indicate that management and those charge with governance:

Question 10

Elements of Internal Control: (CRIME)

E : Control Environment

COSO has indicated that there are _ principles related to the control environment.

They indicate that management and those charge with governance:

1. Demonstrate a commitment to integrity and ethical values;
2. Exercise their oversight responsibility;
3. Establish structure, authority, and responsibility;
4. Demonstrate a commitment to competence; and
5. Enforce accountability.

Answer 10

Elements of Internal Control: (CRIME)

E : Control Environment

COSO has indicated that there are 5 principles related to the control environment.

They indicate that management and those charge with governance:

1. Demonstrate a commitment to integrity and ethical values;
2. Exercise their oversight responsibility;
3. Establish structure, authority, and responsibility;
4. Demonstrate a commitment to competence; and
5. Enforce accountability.

Question 11

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

1. Demonstrate a commitment to integrity and ethical values;
2. Exercise their oversight responsibility;
3. Establish structure, authority, and responsibility;
4. Demonstrate a commitment to competence; and
5. Enforce accountability.

Answer 11

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

1. Demonstrate a commitment to integrity and ethical values;
2. Exercise their oversight responsibility;
3. Establish structure, authority, and responsibility;
4. Demonstrate a commitment to competence; and
5. Enforce accountability.

Question 12

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

1. Demonstrate a com________ to integrity and ethical values;

Answer 12

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

1. Demonstrate a commitment to integrity and ethical values;

Question 13

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

1. Dem________ a commitment to integrity and ethical values;

Answer 13

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

1. Demonstrate a commitment to integrity and ethical values;

Question 14

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

1. Demonstrate a commitment to int______ and ethical values;

Answer 14

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

1. Demonstrate a commitment to integrity and ethical values;

Question 15

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

1. Demonstrate a commitment to integrity and eth____ values;

Answer 15

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

1. Demonstrate a commitment to integrity and ethical values;

Question 16

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

M_________ and those charge with governance:

1. Demonstrate a commitment to integrity and ethical values;

Answer 16

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

1. Demonstrate a commitment to integrity and ethical values;

Question 17

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those ch____ with governance:

2. Exercise their oversight responsibility;

Answer 17

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

2. Exercise their oversight responsibility;

Question 18

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

2. Exercise their oversight res________;

Answer 18

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

2. Exercise their oversight responsibility;

Question 19

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

2. Ex_______ their oversight responsibility;

Answer 19

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

2. Exercise their oversight responsibility;

Question 20

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

2. Exercise their over_____ responsibility;

Answer 20

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

2. Exercise their oversight responsibility;

Question 21

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

3. Establish stru____, authority, and responsibility;

Answer 21

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

3. Establish structure, authority, and responsibility;

Question 22

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

3. Establish structure, auth_____, and responsibility;

Answer 22

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

3. Establish structure, authority, and responsibility;

Question 23

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

3. Esta____ structure, authority, and responsibility;

Answer 23

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

3. Establish structure, authority, and responsibility;

Question 24

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

3. Establish structure, authority, and resp_______;

Answer 24

Elements of Internal Control: (CRIME)

E : Control Environment
5 principles

Management and those charge with governance:

3. Establish structure, authority, and responsibility;

Question 25

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 4. Demonstrate a commitment to comp________;

Answer 25

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 4. Demonstrate a commitment to competence;

Question 26

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 4. Demonstrate a comm______ to competence;

Answer 26

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 4. Demonstrate a commitment to competence;

Question 27

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 4. Dem________ a commitment to competence;

Answer 27

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 4. Demonstrate a commitment to competence;

Question 28

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 5. Enforce acco_______y.

Answer 28

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 5. Enforce accountability.

Question 29

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 5. Enf____ accountability.

Answer 29

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 5. Enforce accountability.

Question 30

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and th___ charge with governance: 5. Enforce accountability.

Answer 30

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 5. Enforce accountability.

Question 31

Elements of Internal Control: (CRIME) E : Control Environment 5 pr_______s Management and those charge with governance: 1. Demonstrate a commitment to integrity and ethical values; 2. Exercise their oversight responsibility; 3. Establish structure, authority, and responsibility; 4. Demonstrate a commitment to competence; and 5. Enforce accountability.

Answer 31

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 1. Demonstrate a commitment to integrity and ethical values; 2. Exercise their oversight responsibility; 3. Establish structure, authority, and responsibility; 4. Demonstrate a commitment to competence; and 5. Enforce accountability.

Question 32

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 1. Dem_______ a commitment to integrity and ethical values; 2. Exercise their oversight responsibility; 3. Establish structure, authority, and responsibility; 4. Demonstrate a commitment to competence; and 5. Enforce accountability.

Answer 32

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 1. Demonstrate a commitment to integrity and ethical values; 2. Exercise their oversight responsibility; 3. Establish structure, authority, and responsibility; 4. Demonstrate a commitment to competence; and 5. Enforce accountability.

Question 33

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 1. Demonstrate a commitment to integrity and ethical values; 2. Ex_______ their oversight responsibility; 3. Establish structure, authority, and responsibility; 4. Demonstrate a commitment to competence; and 5. Enforce accountability.

Answer 33

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 1. Demonstrate a commitment to integrity and ethical values; 2. Exercise their oversight responsibility; 3. Establish structure, authority, and responsibility; 4. Demonstrate a commitment to competence; and 5. Enforce accountability.

Question 34

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 1. Demonstrate a commitment to integrity and ethical values; 2. Exercise their oversight responsibility; 3. Est______ structure, authority, and responsibility; 4. Demonstrate a commitment to competence; and 5. Enforce accountability.

Answer 34

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 1. Demonstrate a commitment to integrity and ethical values; 2. Exercise their oversight responsibility; 3. Establish structure, authority, and responsibility; 4. Demonstrate a commitment to competence; and 5. Enforce accountability.

Question 35

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 1. Demonstrate a commitment to integrity and ethical values; 2. Exercise their oversight responsibility; 3. Establish structure, authority, and responsibility; 4. Dem________ a commitment to competence; and 5. Enforce accountability.

Answer 35

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 1. Demonstrate a commitment to integrity and ethical values; 2. Exercise their oversight responsibility; 3. Establish structure, authority, and responsibility; 4. Demonstrate a commitment to competence; and 5. Enforce accountability.

Question 36

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 1. Demonstrate a commitment to integrity and ethical values; 2. Exercise their oversight responsibility; 3. Establish structure, authority, and responsibility; 4. Demonstrate a commitment to competence; and 5. Enf____ accountability.

Answer 36

Elements of Internal Control: (CRIME) E : Control Environment 5 principles Management and those charge with governance: 1. Demonstrate a commitment to integrity and ethical values; 2. Exercise their oversight responsibility; 3. Establish structure, authority, and responsibility; 4. Demonstrate a commitment to competence; and 5. Enforce accountability.

Question 37

Elements of Internal Control: (CRIME) E : Control Environment The au______ is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Answer 37

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Question 38

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control env__________, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Answer 38

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Question 39

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for det______ing if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Answer 39

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Question 40

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by m__________ with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Answer 40

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Question 41

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the over________ of those charged with governance, has established an honest culture, promoting ethical behavior.

Answer 41

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Question 42

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with gov________, has established an honest culture, promoting ethical behavior.

Answer 42

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Question 43

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an ho____ culture, promoting ethical behavior.

Answer 43

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Question 44

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting et_____ behavior.

Answer 44

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Question 45

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, inf_____ed by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Answer 45

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Question 46

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has est______ed an honest culture, promoting ethical behavior.

Answer 46

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Question 47

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical be___ior.

Answer 47

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior.

Question 48

Elements of Internal Control: (CRIME) E : Control Environment The auditor is res________ for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior. The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Answer 48

Elements of Internal Control: (CRIME) E : Control Environment The auditor is responsible for determining if the control environment, influenced by management with the oversight of those charged with governance, has established an honest culture, promoting ethical behavior. The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 49

Elements of Internal Control: (CRIME) E : Control Environment The control env_________, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Answer 49

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 50

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level con____s, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Answer 50

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 51

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as en____-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Answer 51

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 52

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-le___ controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Answer 52

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 53

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foun_______ for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Answer 53

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 54

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control stru_______, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Answer 54

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 55

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other com_______s and for assuring that internal controls are not undermined by deficiencies in the control environment.

Answer 55

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 56

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for ass__ing that internal controls are not undermined by deficiencies in the control environment.

Answer 56

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 57

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not under___ed by deficiencies in the control environment.

Answer 57

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 58

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by def______ies in the control environment.

Answer 58

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 59

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control envi________.

Answer 59

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 60

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are n__ undermined by deficiencies in the control environment.

Answer 60

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 61

What is entity-level controls?

Answer 61

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls. The entity-level controls should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 62

What level of controls that provide a foundation for the overall internal control structure?

Answer 62

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 63

What level of controls is assuring that internal controls are not undermined by deficiencies in the control environment?

Answer 63

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 64

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should pro____ a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Answer 64

Elements of Internal Control: (CRIME) E : Control Environment The control environment, consisting of what are referred to as entity-level controls, should provide a foundation for the overall internal control structure, including the other components and for assuring that internal controls are not undermined by deficiencies in the control environment.

Question 65

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the org________, involve the assignment of authority and responsibility, and address conduct.

Answer 65

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct.

Question 66

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with com____-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct.

Answer 66

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct.

Question 67

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the t___ of the organization, involve the assignment of authority and responsibility, and address conduct.

Answer 67

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct.

Question 68

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the ass________ of authority and responsibility, and address conduct.

Answer 68

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct.

Question 69

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and res_________, and address conduct.

Answer 69

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct.

Question 70

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of auth_____ and responsibility, and address conduct.

Answer 70

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct.

Question 71

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address con____.

Answer 71

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct.

Question 72

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission stat______ that is part of the entity’s culture;

Answer 72

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture;

Question 73

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s cult___;

Answer 73

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture;

Question 74

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a miss___ statement that is part of the entity’s culture;

Answer 74

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture;

Question 75

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a c___ of conduct that applies to all members of the organization, including management;

Answer 75

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management;

Question 76

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of con___ that applies to all members of the organization, including management;

Answer 76

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management;

Question 77

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that app__es to all members of the organization, including management;

Answer 77

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management;

Question 78

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to a__ members of the organization, including management;

Answer 78

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management;

Question 79

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including m___________;

Answer 79

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management;

Question 80

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; orga________ charts and job descriptions that indicate the roles of individuals within the organization;

Answer 80

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization;

Question 81

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization ch___s and job descriptions that indicate the roles of individuals within the organization;

Answer 81

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization;

Question 82

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job des_______s that indicate the roles of individuals within the organization;

Answer 82

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization;

Question 83

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and j__ descriptions that indicate the roles of individuals within the organization;

Answer 83

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization;

Question 84

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the r___s of individuals within the organization;

Answer 84

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization;

Question 85

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of ind_______s within the organization;

Answer 85

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization;

Question 86

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of m__________ and executives, which is often considered one of the more significant components.

Answer 86

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 87

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and exe_____es, which is often considered one of the more significant components.

Answer 87

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 88

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more sig_______ components.

Answer 88

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 89

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the m___ significant components.

Answer 89

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 90

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant com________s.

Answer 90

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 91

Elements of Internal Control: (CRIME) E : Control Environment En___y-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Answer 91

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 92

Elements of Internal Control: (CRIME) E : Control Environment Entity-le___ controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Answer 92

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 93

Elements of Internal Control: (CRIME) E : Control Environment Entity-level con____s include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Answer 93

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 94

Elements of Internal Control: (CRIME) E : Control Environment En___y-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct. Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Answer 94

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct. Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 95

Elements of Internal Control: (CRIME) E : Control Environment The a______ obtains knowledge of entity-level controls through inquiries made of management and others and through observations.

Answer 95

Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains knowledge of entity-level controls through inquiries made of management and others and through observations.

Question 96

Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains knowledge of entity-level controls through inq___ies made of management and others and through observations.

Answer 96

Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains knowledge of entity-level controls through inquiries made of management and others and through observations.

Question 97

Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains knowledge of entity-level controls through inquiries made of m_________ and others and through observations.

Answer 97

Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains knowledge of entity-level controls through inquiries made of management and others and through observations.

Question 98

Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains knowledge of entity-level controls through inquiries made of management and others and through obs_______s.

Answer 98

Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains knowledge of entity-level controls through inquiries made of management and others and through observations.

Question 99

Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains knowledge of entity-level controls through inquiries made of management and ot___s and through observations.

Answer 99

Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains knowledge of entity-level controls through inquiries made of management and others and through observations.

Question 100

Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains know_____ of entity-level controls through inquiries made of management and others and through observations.

Answer 100

Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains knowledge of entity-level controls through inquiries made of management and others and through observations.

Question 101

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control env________ by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Answer 101

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Question 102

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control environment by simply obs___ing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Answer 102

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Question 103

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control environment by simply observing the relationship between em____ees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Answer 103

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Question 104

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their sup______s and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Answer 104

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Question 105

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and m_________ and, in particular, if employees at all levels are shown an appropriate level of respect.

Answer 105

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Question 106

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at a__ levels are shown an appropriate level of respect.

Answer 106

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Question 107

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of resp____.

Answer 107

Elements of Internal Control: (CRIME) E : Control Environment The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Question 108

Elements of Internal Control: (CRIME) E : Control Environment The auditor ob____s knowledge of entity-level controls through inquiries made of management and others and through observations. The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Answer 108

Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains knowledge of entity-level controls through inquiries made of management and others and through observations. The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Question 109

How does the auditor obtains knowledge of entity-level controls?

Answer 109

Through inquiries made of management and others and through observations ---------------- Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains knowledge of entity-level controls through inquiries made of management and others and through observations. The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Question 110

What is the auditor should be observing in order to obtains knowledge of entity-level controls?

Answer 110

The auditor should be observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect. ---------------------- Elements of Internal Control: (CRIME) E : Control Environment The auditor obtains knowledge of entity-level controls through inquiries made of management and others and through observations. The auditor can often learn a great deal about the control environment by simply observing the relationship between employees and their supervisors and management and, in particular, if employees at all levels are shown an appropriate level of respect.

Question 111

What level of controls deal with company-wide issues?

Answer 111

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct. Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 112

What level of controls involve the assignment of authority and responsibility, and address conduct?

Answer 112

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct. Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 113

What level of controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct?

Answer 113

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct. Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 114

What should be included at entity-level controls? - A mi______ statement - A c___ of conduct - Organization ch___s and j__ descriptions - The behavior of m___________ and executives

Answer 114

What should be included at entity-level controls? - A mission statement - A code of conduct - Organization charts and job descriptions - The behavior of management and executives --- Longer answer ---------- - A mission statement that is part of the entity’s culture - A code of conduct that applies to all members of the organization, including management - Organization charts and job descriptions that indicate the roles of individuals within the organization - The behavior of management and executives, which is often considered one of the more significant components. --------- Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 115

What should be included at entity-level controls that is often considered one of the more significant components?

Answer 115

What should be included at entity-level controls that is often considered one of the more significant components? - The behavior of management and executives ----------------------- Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 116

What level of controls involve the assignment of responsibility, and address conduct?

Answer 116

Elements of Internal Control: (CRIME) E : Control Environment Entity-level controls deal with company-wide issues and set the tone of the organization, involve the assignment of authority and responsibility, and address conduct. Entity-level controls include a mission statement that is part of the entity’s culture; a code of conduct that applies to all members of the organization, including management; organization charts and job descriptions that indicate the roles of individuals within the organization; and the behavior of management and executives, which is often considered one of the more significant components.

Question 117

Elements of Internal Control: (CRIME) 1. Control Environment (CHOPPER) 2. Risk Assessment 3. Control Activities 4. Information and Communication 5. Monitoring or 5 components of internal control (CRIME) * Control activities * Risk assessment * Information and communication * Monitoring * Control Environment

Answer 117

Elements of Internal Control: (CRIME) 1. Control Environment (CHOPPER) 2. Risk Assessment 3. Control Activities 4. Information and Communication 5. Monitoring or 5 components of internal control (CRIME) * Control activities * Risk assessment * Information and communication * Monitoring * Control Environment

Question 118

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk ass________ for financial reporting purposes is its identification, analysis, and management of risks

Answer 118

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks

Question 119

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An en____’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks

Answer 119

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks

Question 120

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its ide_______, analysis, and management of risks

Answer 120

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks

Question 121

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, ana_____, and management of risks

Answer 121

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks

Question 122

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of r___s relevant to the preparation of financial statements that are fairly presented in conformity with GAAP

Answer 122

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fairly presented in conformity with GAAP

Question 123

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and m_________ of risks relevant to the preparation of financial statements that are fairly presented in conformity with GAAP

Answer 123

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fairly presented in conformity with GAAP

Question 124

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks relevant to the pre________ of financial statements that are fairly presented in conformity with GAAP

Answer 124

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fairly presented in conformity with GAAP

Question 125

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fairly presented in conformity with G___

Answer 125

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fairly presented in conformity with GAAP

Question 126

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fa____ presented in conformity with GAAP

Answer 126

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fairly presented in conformity with GAAP

Question 127

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fairly presented in conformity with GAAP or whatever financial reporting fr_______k that will be applied in the preparation.

Answer 127

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fairly presented in conformity with GAAP or whatever financial reporting framework that will be applied in the preparation.

Question 128

Elements of Internal Control: (CRIME) 2. R = Risk Assessment R___ assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data.

Answer 128

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data.

Question 129

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes r___s that may affect an entity’s ability to properly record, process, summarize, and report financial data.

Answer 129

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data.

Question 130

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an e____y’s ability to properly record, process, summarize, and report financial data.

Answer 130

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data.

Question 131

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly rec___, process, summarize, and report financial data.

Answer 131

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data.

Question 132

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly record, pro____, summarize, and report financial data.

Answer 132

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data.

Question 133

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly record, process, sum_______, and report financial data.

Answer 133

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data.

Question 134

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and rep___ financial data.

Answer 134

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data.

Question 135

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial d___.

Answer 135

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data.

Question 136

Elements of Internal Control: (CRIME) 2. R = Risk Assessment R___ assessment, for example, may address how the entity considers the possibility of unrecorded transactions

Answer 136

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions

Question 137

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address h__ the entity considers the possibility of unrecorded transactions

Answer 137

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions

Question 138

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unre____ed transactions

Answer 138

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions

Question 139

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded trans_______s or identifies and analyzes significant estimates recorded in the financial statements.

Answer 139

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Question 140

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or ide_____ies and analyzes significant estimates recorded in the financial statements.

Answer 140

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Question 141

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and ana____s significant estimates recorded in the financial statements.

Answer 141

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Question 142

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes sig________ estimates recorded in the financial statements.

Answer 142

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Question 143

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant est_______s recorded in the financial statements.

Answer 143

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Question 144

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial sta________s.

Answer 144

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Question 145

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may add_____ how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Answer 145

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Question 146

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment incl___s risks that may affect an entity’s ability to properly record, process, summarize, and report financial data. Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Answer 146

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data. Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Question 147

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for fi_______ reporting purposes is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fairly presented in conformity with GAAP or whatever financial reporting framework that will be applied in the preparation. Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data. Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Answer 147

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fairly presented in conformity with GAAP or whatever financial reporting framework that will be applied in the preparation. Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data. Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Question 148

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting pur____s is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fairly presented in conformity with GAAP or whatever financial reporting framework that will be applied in the preparation. Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data. Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Answer 148

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fairly presented in conformity with GAAP or whatever financial reporting framework that will be applied in the preparation. Risk assessment includes risks that may affect an entity’s ability to properly record, process, summarize, and report financial data. Risk assessment, for example, may address how the entity considers the possibility of unrecorded transactions or identifies and analyzes significant estimates recorded in the financial statements.

Question 149

What is an entity’s risk assessment for financial reporting purposes?

Answer 149

Elements of Internal Control: (CRIME) 2. R = Risk Assessment An entity’s risk assessment for financial reporting purposes is its identification, analysis, and management of risks relevant to the preparation of financial statements that are fairly presented in conformity with GAAP or other framework that will be applied in the preparation.

Question 150

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include ex____ and internal factors

Answer 150

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors

Question 151

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and in______l factors

Answer 151

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors

Question 152

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks re_______ to financial reporting include external and internal factors

Answer 152

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors

Question 153

Elements of Internal Control: (CRIME) 2. R = Risk Assessment R___s relevant to financial reporting include external and internal factors

Answer 153

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors

Question 154

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Changes in the operating env_________

Answer 154

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Changes in the operating environment

Question 155

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Ch___es in the operating environment

Answer 155

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Changes in the operating environment

Question 156

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Changes in the ope___ing environment

Answer 156

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Changes in the operating environment

Question 157

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • N__ personnel

Answer 157

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • New personnel

Question 158

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • N__ or revamped information systems

Answer 158

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • New or revamped information systems

Question 159

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • New or revamped inf_________ systems

Answer 159

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • New or revamped information systems

Question 160

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Rapid gr__th

Answer 160

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Rapid growth

Question 161

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Ra___ growth

Answer 161

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Rapid growth

Question 162

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • N__ technology

Answer 162

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • New technology

Question 163

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • New tech_______

Answer 163

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • New technology

Question 164

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • N__ lines of business, products, or activities

Answer 164

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • New lines of business, products, or activities

Question 165

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • New lines of business, pro____s, or activities

Answer 165

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • New lines of business, products, or activities

Question 166

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • New lines of business, products, or acti_____s

Answer 166

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • New lines of business, products, or activities

Question 167

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Corporate restr_______s

Answer 167

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Corporate restructurings

Question 168

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Cor_______ restructurings

Answer 168

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Corporate restructurings

Question 169

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Fore___ operations

Answer 169

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Foreign operations

Question 170

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Foreign oper_____s

Answer 170

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Foreign operations

Question 171

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Ch___es to accounting pronouncements

Answer 171

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Changes to accounting pronouncements

Question 172

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Changes to accounting prono________s

Answer 172

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Changes to accounting pronouncements

Question 173

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Ch___es to the economic environment

Answer 173

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Changes to the economic environment

Question 174

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Changes to the eco______ environment

Answer 174

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: • Changes to the economic environment

Question 175

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: * Cha__es in the operating environment * N__ personnel * N__ or revamped information systems

Answer 175

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: * Changes in the operating environment * New personnel * New or revamped information systems

Question 176

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: * Ra___ growth * N__ technology * N__ lines of business, products, or activities

Answer 176

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: * Rapid growth * New technology * New lines of business, products, or activities

Question 177

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: * Corporate restr________s * Foreign ope_______s * Ch___es to accounting pronouncements * Ch___es to the economic environment

Answer 177

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: * Corporate restructurings * Foreign operations * Changes to accounting pronouncements * Changes to the economic environment

Question 178

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial re____ing include external and internal factors, such as: * Changes in the operating environment * New personnel * New or revamped information systems * Rapid growth * New technology * New lines of business, products, or activities * Corporate restructurings * Foreign operations * Changes to accounting pronouncements * Changes to the economic environment

Answer 178

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: * Changes in the operating environment * New personnel * New or revamped information systems * Rapid growth * New technology * New lines of business, products, or activities * Corporate restructurings * Foreign operations * Changes to accounting pronouncements * Changes to the economic environment

Question 179

Elements of Internal Control: (CRIME) 2. R = Risk Assessment C___ has indicated that there are 4 principles related to risk assessment.

Answer 179

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 principles related to risk assessment.

Question 180

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 p________es related to risk assessment.

Answer 180

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 principles related to risk assessment.

Question 181

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 principles related to r___ assessment.

Answer 181

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 principles related to risk assessment.

Question 182

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 1. Specify suitable obje_____s;

Answer 182

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 1. Specify suitable objectives;

Question 183

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 1. Spe___y suitable objectives;

Answer 183

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 1. Specify suitable objectives;

Question 184

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 1. Specify suit____ objectives;

Answer 184

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 1. Specify suitable objectives;

Question 185

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 2. Ide____ and analyze risk;

Answer 185

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 2. Identify and analyze risk;

Question 186

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 2. Identify and ana____ risk;

Answer 186

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 2. Identify and analyze risk;

Question 187

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 3. Assess fr__d risk

Answer 187

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 3. Assess fraud risk;

Question 188

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 3. Ass___ fraud risk

Answer 188

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 3. Assess fraud risk;

Question 189

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 1. Specify suitable objectives; 2. Identify and analyze risk; 3. Assess fraud risk; and 4. Identify and analyze significant change.

Answer 189

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 1. Specify suitable objectives; 2. Identify and analyze risk; 3. Assess fraud risk; and 4. Identify and analyze significant change.

Question 190

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 4. Ide____y and analyze significant change.

Answer 190

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 4. Identify and analyze significant change.

Question 191

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 4. Identify and analyze sig________ change.

Answer 191

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 4. Identify and analyze significant change.

Question 192

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 4. Identify and analyze significant ch___e.

Answer 192

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 4. Identify and analyze significant change.

Question 193

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 principles related to risk assessment. They indicate that management and those charged with governance: 1. Specify suitable objectives; 2. Identify and analyze risk; 3. Assess fraud risk; and 4. Identify and analyze significant change.

Answer 193

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 principles related to risk assessment. They indicate that management and those charged with governance: 1. Specify suitable objectives; 2. Identify and analyze risk; 3. Assess fraud risk; and 4. Identify and analyze significant change.

Question 194

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 1. Specify suitable objectives; 2. Identify and analyze risk; 3. Assess fraud risk; and 4. Identify and analyze significant change.

Answer 194

Elements of Internal Control: (CRIME) 2. R = Risk Assessment 4 principles management and those charged with governance: 1. Specify suitable objectives; 2. Identify and analyze risk; 3. Assess fraud risk; and 4. Identify and analyze significant change.

Question 195

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are _ principles related to risk assessment. They indicate that management and those charged with governance: 1. Specify suitable objectives; 2. Identify and analyze risk; 3. Assess fraud risk; and 4. Identify and analyze significant change.

Answer 195

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 principles related to risk assessment. They indicate that management and those charged with governance: 1. Specify suitable objectives; 2. Identify and analyze risk; 3. Assess fraud risk; and 4. Identify and analyze significant change.

Question 196

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 principles related to risk assessment. They indicate that management and those ch___ed with governance: 1. Specify suitable objectives; 2. Identify and analyze risk; 3. Assess fraud risk; and 4. Identify and analyze significant change.

Answer 196

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 principles related to risk assessment. They indicate that management and those charged with governance: 1. Specify suitable objectives; 2. Identify and analyze risk; 3. Assess fraud risk; and 4. Identify and analyze significant change.

Question 197

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 principles related to risk assessment. They indicate that management and those charged with gov_______: 1. Specify suitable objectives; 2. Identify and analyze risk; 3. Assess fraud risk; and 4. Identify and analyze significant change.

Answer 197

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 principles related to risk assessment. They indicate that management and those charged with governance: 1. Specify suitable objectives; 2. Identify and analyze risk; 3. Assess fraud risk; and 4. Identify and analyze significant change.

Question 198

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 principles related to risk assessment. They indicate that management and those charged with governance: 1. Sp____y suitable objectives; 2. Ide____y and analyze risk; 3. Ass___ fraud risk; and 4. Ide____ and analyze significant change.

Answer 198

Elements of Internal Control: (CRIME) 2. R = Risk Assessment COSO has indicated that there are 4 principles related to risk assessment. They indicate that management and those charged with governance: 1. Specify suitable objectives; 2. Identify and analyze risk; 3. Assess fraud risk; and 4. Identify and analyze significant change.

Question 199

Provide examples of risks relevant to financial reporting, include external and internal factors: ``` Answer: • Changes in the operating environment • New personnel • New or revamped information systems • Rapid growth • New technology • New lines of business, products, or activities • Corporate restructurings • Foreign operations • Changes to accounting pronouncements • Changes to the economic environment ```

Answer 199

Elements of Internal Control: (CRIME) 2. R = Risk Assessment Risks relevant to financial reporting include external and internal factors, such as: * Changes in the operating environment * New personnel * New or revamped information systems * Rapid growth * New technology * New lines of business, products, or activities * Corporate restructurings * Foreign operations * Changes to accounting pronouncements * Changes to the economic environment