Which three of the following are among the five components of internal control?
A)The control environment
B)Risk assessment
C)Information and communication
D)Reward and Punishment

Question

Quizplus · Accepted Answer

The three components of internal control that are among the five components are: 
A) The control environment, which provides the foundation for the system and sets the tone for the organization's control consciousness. 
B) Risk assessment, which involves identifying and analyzing risks relevant to financial reporting objectives and assessing the level of risk. 
C) Information and communication, which involves capturing and exchanging information in a timely and accurate manner to enable employees to carry out their responsibilities effectively. 
D) Reward and Punishment is not a component of internal control.

Which Three of the Following Are Among the Five Components