multi-choice

Question 1

Each of the following types of controls is considered to be an entity-level control, except those:

a. Regarding the company's annual stockholder meeting.
b. Relating to the control environment.
c. Addressing policies over significant risk management practices.
d. Pertaining to the company's risk assessment process.

Answer 1

Choice “a” is correct. Entity level controls include controls related to the control environment, the risk assessment process, and the policies over risk management practices. Controls regarding the company’s annual stockholder meeting are controls related to a specific event, rather than the entity as a whole.