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    Describe how the five components of internal control are rel

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    Describe how the five components of internal control are related. Select one of the five components and assume you have an issue with this area; how do you detect the issue and prevent it from reocurring? If there is an issue in one of the area, might it be a standalone issue?

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    Describe how the five components of internal control are related. Select one of the five components and assume you have an issue with this area; how do you detect the issue and prevent it from reocurring? If there is an issue in one of the area, might it be a standalone issue?

    Solution:

    Describe how the five components of internal control are related.

    The five components of internal control include:
    1. The control environment
    2. Risk Assessment
    3. Control Activities
    4. Information & Communication
    5. Monitoring

    Each component is specifically related to each of the other components. The control environment sets the tone for the entire organization. If the control environment is strong, the control activities will be strong. If the control environment is weak, the control activities will either be weak or non-existent. It is not likely that you would have an effective set of control activities with a weak control environment.

    The risk assessment directly identifies the vulnerable, or weak ...

    Solution Summary

    Describe how the five components of internal control are related. Select one of the five components and assume you have an issue with this area; how do you detect the issue and prevent it from reocurring? If there is an issue in one of the area, might it be a standalone issue?

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