Internal control consists of five interrelated components. These are derived from the way management runs a business,
Question:
Internal control consists of five interrelated components. These are derived from the way management runs a business, and are integrated with the management process.
Required:
A. Name and define the components of internal control.
B. How do the components of internal control affect each other?
C. Discuss the interrelationship of components using as an example a retail clothing store.
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Related Book For
Principles of Auditing An Introduction to International Standards on Auditing
ISBN: 978-0273768173
3rd edition
Authors: Rick Hayes, Philip Wallage, Hans Gortemaker
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