Obtaining an understanding of an internal control involves evaluating the design of the control and determining whether the control has been:
A)authorized.
B)implemented.
C)tested.
D)monitored.

Question

Quizplus · Accepted Answer

Evaluating the design of an internal control and determining whether it has been implemented are key steps in obtaining an understanding of an internal control system. This involves assessing if the control is properly designed to address the specified risk and if it is in operation. Testing and monitoring are subsequent steps to assess the effectiveness of the controls, but the question specifically asks about obtaining an initial understanding.

Obtaining an Understanding of an Internal Control Involves Evaluating the Design