The COSO report identified a component of internal control as the policies and procedures that help ensure that management directives are carried out and that management directives are achieved The component is:
A)Control activities
B)Risk assessment
C)Monitoring
D)Information and communication

Question

Quizplus · Accepted Answer

Control activities are the policies and procedures implemented by management to achieve specific objectives. This includes the implementation of policies and procedures to ensure that management directives are carried out and achieved. Risk assessment involves the identification and analysis of risks that may impact the achievement of objectives. Monitoring involves ongoing monitoring of the system of internal control to ensure that it is operating effectively. Information and communication involves the communication of information within the organization to support the functioning of internal control.

The COSO Report Identified a Component of Internal Control as the Policies