When a firm uses internal auditors, it is adhering to which one of the following internal control elements?
A) Risk assessment
B) Monitoring
C) Proofs and security measures
D) Separating responsibilities for related operations

Question

Quizplus · Accepted Answer

Internal auditors are part of the monitoring element of internal control, which involves ongoing evaluations to ensure that controls are working effectively. The other options listed refer to different elements of internal control: risk assessment involves identifying and analyzing potential risks, proofs and security measures involve physical or electronic measures to safeguard assets and prevent fraud, and separating responsibilities for related operations refers to dividing tasks between different individuals to reduce the risk of errors or fraud.

When a Firm Uses Internal Auditors, It Is Adhering to Which