One specific component of internal control is risk assessment and management.

Name: One specific component of internal control is risk assessment and management.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Risk assessment and management is indeed a specific component of internal control, as it involves identifying and evaluating potential risks to the organization's operations, financial reporting, and compliance with laws and regulations, and implementing measures to mitigate or avoid these risks.

One Specific Component of Internal Control Is Risk Assessment and Management