Select from the option list provided to indicate the applicable monitoring phase, if any, for each...

 

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Select from the option list provided to indicate the applicable monitoring phase, if any, for each potential component listed below. Each choice may be used once, more than once, or not at all. Potential component Monitoring phase 1. Tone at the top 2. Prioritizing findings 3. Prioritizing risks 4. Organizational structure 5. Identifying controls 6. Baseline understanding of internal control deficiencies 7. Reporting results to shareholders in financial statements 8. Identifying persuasive information about controls 9. Following up on corrective action 10. Implementing monitoring procedures Select an option below Foundation for monitoring Design and execute O Assess and report Not a COSO monitoring phase Select from the option list provided to indicate the applicable monitoring phase, if any, for each potential component listed below. Each choice may be used once, more than once, or not at all. Potential component Monitoring phase 1. Tone at the top 2. Prioritizing findings 3. Prioritizing risks 4. Organizational structure 5. Identifying controls 6. Baseline understanding of internal control deficiencies 7. Reporting results to shareholders in financial statements 8. Identifying persuasive information about controls 9. Following up on corrective action 10. Implementing monitoring procedures Select an option below Foundation for monitoring Design and execute O Assess and report Not a COSO monitoring phase

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The Guidance on Monitoring Internal Control Systems issued by the Committee of Sp... View the full answer