The internal control category control environment includes identifying, analyzing, and managing risks affecting the ability to report financial data properly.

Question

Quizplus · Accepted Answer

The control environment is the foundation of the internal control system, focusing on the organization's culture, values, and environment that influence the effectiveness of internal controls. Identifying, analyzing, and managing risks is part of the risk assessment process, a separate component of internal control.

The Internal Control Category Control Environment Includes Identifying, Analyzing, and Managing