Which one of the following below is not an element of internal control?
A) risk assessment
B) monitoring
C) information and communication
D) cost-benefit considerations

Question

Quizplus · Accepted Answer

Cost-benefit considerations are not considered as an element of internal control. Internal control includes risk assessment, monitoring, and information and communication. Cost-benefit considerations may be a factor in making decisions about implementing internal control measures, but they are not considered an element of internal control in themselves.

Which One of the Following Below Is Not an Element