The ongoing review and evaluation of a system of internal control is referred to as:
A)Risk assessment
B)Monitoring
C)Segregating
D)Communication

Question

Quizplus · Accepted Answer

Monitoring is the ongoing review and evaluation of a system of internal control to ensure that it is operating effectively and efficiently. Risk assessment is the identification and analysis of potential risks to the organization. Segregating refers to separating incompatible duties and responsibilities to prevent fraud and error. Communication refers to sharing information both internally and externally.

The Ongoing Review and Evaluation of a System of Internal