S.No Statement A Internal Control comprises B Main objectives of internal control is to C Definition by The American Institute of Public Accountants D Objectives of internal control as per auditors point of view Answer Matching Statement Control environment process for identifying and analyzing risks to achieving the agency's objectives, analyzing the risks, and using that information to decide how to respond to the risks. Management identifies, analyses, and responds to changes that could significantly impact its system of internal control The plan of the organization and all the co-ordinate methods and measures adopted within a business to safeguard its assets. The agency implements control activities through policies and procedures. to study and evaluate the system of internal control principles relating to information and communication check the accuracy and reliability of its accounting data to promote operational efficiency and to encourage adherence to prescribed managerial policies. Limitations of Internal Control E The Auditor has to determine whether audit is possible F Objectives of internal control as per clients point of view G components of an internal control H process used to identify (on an iterative basis), assess, and manage risks to the achievement of the entity's objectives I set of standards, processes, and structures that provide the basis for carrying out internal control. J principles relating to risk assessment K Risk assessment involves L principles relating to control activities How management assigns authority and responsibility Interview Management Internal control system insures that rules and procedures are to be followed by business personnel Risk Assessment M The agency communicates with external parties regarding matters affecting the functioning of internal control. N An increasingly complex internal control system can lead to operational inefficiencies, because employees are unable to cope with the system O Evaluation of internal control system he should determine the scope of audit reviews, checks and balances, methods and procedures