A set of characteristics that helps to define a seriousness about employees' attitudes about the control activities in a company is referred to as:
A)management assertions.
B)the control environment.
C)control risk assessment.
D)functional responsibilities.

Question

Quizplus · Accepted Answer

The control environment is a set of characteristics that helps to define a seriousness about employees' attitudes and actions regarding the control activities in a company. This includes the company's ethical values, management philosophy and operating style, the assignment of authority and responsibility, and the policies and procedures for human resource management. Management assertions refer to the assertions that management makes about the accuracy, completeness, and valuation of the financial statements. Control risk assessment refers to the process of assessing the risk that control failures could result in material misstatements in the financial statements. Functional responsibilities refer to the specific responsibilities assigned to different functions or departments within the company.

A Set of Characteristics That Helps to Define a Seriousness