Required:

The audit team's overarching objective when auditing the system of internal control over financial reporting is to express an opinion on

the system's effectiveness. To achieve this goal, the COSO framework defines five interrelated components of a well$-$functioning

internal control system. They are

Control environment.

Risk assessment.

Control activities.

Monitoring.

Information and communication.

For each of the controls identified below for Taft Energy, please select the most appropriate component from the COSO framework: