Which of the following best describes the purpose of control activities?
A) the actions, policies and procedures that reflect the overall attitudes of management
B) the identification and analysis of risks relevant to the preparation of financial statements
C) the policies and procedures that help ensure that necessary actions are taken to address risks to the achievement of the entity's objectives
D) activities that deal with the ongoing assessment of the quality of internal control by management

Question

Quizplus · Accepted Answer

Control activities are policies and procedures that are put in place to address identified risks and ensure that necessary actions are taken to achieve the entity's objectives. They are specific actions taken by management to reduce the risk of errors, fraud, and noncompliance. They are a key component of internal control and help ensure the reliability of financial reporting.

Which of the Following Best Describes the Purpose of Control