Ethics and corporate culture, management philosophy and operating style and an effective and independent audit committee are all part of which internal control component?

Question

Quizplus · Accepted Answer

Ethics and corporate culture, management philosophy and operating style, and an effective and independent audit committee all contribute to the control environment, which sets the tone for the organization's internal controls. Control activities involve specific policies and procedures, monitoring involves ongoing assessments of the internal control system, and information and communication involves the flow of information throughout the organization.

Ethics and Corporate Culture, Management Philosophy and Operating Style and an Effective