Match the following elements of internal control:
-Risk assessment
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

Question

Quizplus · Accepted Answer

Risk assessment involves identifying, analyzing, and assessing the likelihood of vulnerabilities within an organization's internal control system.

Match the Following Elements of Internal Control