$1.$ Management asserts that entity$-$level controls are designed adequately and operating effectively to reduce the above stated risk to an acceptably low level. Identify the key entity$-$level controls you expect to find in place if management$$s assertion is true. Keep in mind that entity$-$level controls may exist in any of the five COSO components of internal control $($control environment, risk assessment, controls, information and communication, and monitoring$).[$Note: Students are encouraged to review exhibit CS $1-4,$ but answers should be case$-$specific.$]$