For a specific internal control to be effective, both the preventive and the detective aspect of the control must exist and be interrelated.
Correct Answer:
Verified
Q1: Risk response represents a series of actions
Q2: A good internal control system will contribute
Q4: The separation of duties control would not
Q5: Risk portfolio represents the amount and type
Q6: The five components of internal control articulated
Q7: An effective approach for maintaining a good
Q8: A company's control environment is unimportant when
Q9: Controls that specifically encourage operating efficiency are
Q10: Risk assessment is an important component of
Q11: COSO did not change its definition of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents