Asked by Mayce Herrington on Jun 29, 2024
Verified
Monitoring
A) Provides reasonable assurance that business goals will be achieved
B) Used by management for guiding operations and ensuring compliance with requirements
C) Overall attitude of management and employees
D) Used to locate weaknesses and improve controls
E) Identify, analyze, and assess likeliness of vulnerabilities
Monitoring
The continuous observation, checking, and adjustment of a process or performance by systematically tracking key metrics or activities.
Reasonable Assurance
A high level of certainty provided through internal controls and procedures to prevent and detect errors or fraud in financial reporting.
Vulnerabilities
Weaknesses or flaws in a system that can be exploited to compromise its security or functionality.
- Associate elements of internal control with their corresponding descriptions or intended outcomes.
Verified Answer
ZK
Zybrea KnightJul 02, 2024
Final Answer :
D
Explanation :
Monitoring is a process used to locate weaknesses in the internal control system and to improve controls, ensuring that any deficiencies are identified and addressed.
Learning Objectives
- Associate elements of internal control with their corresponding descriptions or intended outcomes.