Stanley Morgan has learned that it is important to be aware of the attitude and actions of management and those charged with governance concerning the entity's internal control and its importance in the entity. This best describdealing with
A) a key control objective.
B) the control environment.
C) mitigation of audit risk.
D) financial statement assertions.

Question

Quizplus · Accepted Answer

The statement best describes the control environment, which refers to the overall attitude, awareness, and actions of management and those charged with governance concerning internal control. It is one of the five components of internal control recognized by COSO.

Stanley Morgan Has Learned That It Is Important to Be