Which of the following describes the internal control component monitoring of controls?
A)Internal auditors monitor company controls to safeguard assets, and external auditors evaluate the controls to ensure that the accounting records are accurate.
B)Monitoring of controls is the "tone at the top" of the business.
C)Monitoring of controls is designed to ensure that the business's goals are achieved.
D)A company must identify its risks.

Question

Quizplus · Accepted Answer

Monitoring of controls involves both internal and external evaluations to ensure that the controls are operating as intended. Internal auditors check the effectiveness of internal controls, while external auditors assess the controls to verify the accuracy of financial records.

Which of the Following Describes the Internal Control Component Monitoring