One of the three primary objectives of an internal control system.
What are ensure, efficient and effective operations, accurate financial reporting and compliance with laws and regulations?
100
One of the three primary objectives of an internal control system.
What are ensure, efficient and effective operations, accurate financial reporting and compliance with laws and regulations?
100
Name the foundation for all other components of internal control.
What is Control Environment?
100
Critical component of an effective internal control system.
What is the process of identifying and analyzing risk?
100
Name the controlling and authoritative body of most organizations
What is the Board of Directors
200
Protect assets and yields trustworthy financial reporting.
What is a well planned and reliable internal control system?
200
Name the basis of how risk should be management.
What is Risk Assessment?
200
Timeframe to identify and analyze risk.
What is on going?
200
Who is the frontline party engaged in actives warranty internal controls?
Who are the Employees
300
Measure performance, make decisions, evaluate process and limit risk.
What are Internal Controls that can help managers?
300
The system that supports the identification, capture, and exchange of information in the form and time frame that enables people to carry out their responsibilities.
What is Information and Communication?
300
Risk identified, understood, and accessed.
What are things you need before you know what controls are needed?
300
Name the parties most engaged in establishing internal controls.
Who is Management?
400
Foundation to a safe, sound, and successful enterprises.
What is the importance of Internal Control?
400
Policies and procedures that help ensure management directives dare carried out.
What are Control Activities?
400
Mandatory training, identify approver, and limits on purchases.
What are examples of internal controls?
400
Name the persons or entity responsible for checks and balances of internal controls.
Who are Auditors?
500
Number of components in the COSO internal control framework.
What are Five?
500
Processes used to assess the quality of internal control performance over time.
What is Monitoring?
500
Attention focused on risk at all levels and necessary actions taken.
What is effective management of risk control?
500
Name persons who have oversight responsibility.
Who are the Executive leadership team / Board of Directors?