The extent of an entity's use of IT can affect any of the components of internal control.

Question

Quizplus · Accepted Answer

IT can affect any of the components of internal control, including the control environment, risk assessment, control activities, information and communication, and monitoring activities. For example, an entity that heavily relies on IT for its financial reporting may need to implement additional IT controls to ensure the accuracy and reliability of its financial data.

The Extent of an Entity's Use of IT Can Affect