Explore BrainMass

Explore BrainMass

    The Internal Control Component for Control Procedures

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Which of the following describes the internal control component "control procedures"?
    A: Company must identify its risks.
    B: Internal auditors monitor company controls to safeguard assets, and external auditors monitor the controls to ensure that the accounting records are accurate.
    C: Control procedures are the "tone at the top" of the business.
    D: Control procedures are designed to ensure that the business's goals are achieved.

    © BrainMass Inc. brainmass.com June 4, 2020, 4:26 am ad1c9bdddf

    Solution Preview

    A - company must identify its risks.

    B - this is the definition for "monitoring of controls"
    C - the control environment includes the tone at the top.
    D - Control ...

    Solution Summary

    This solution provides the correct answer with explanation to the internal control question provided.