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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Answer rating: 75% (16 reviews)
A The components of internal control are Control environment The core of any business is its people their individual attributes including integrity ethical values and competence and the environment in ...View the full answer
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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
Question Posted:
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