Stanley Morgan has learned that it is important to be aware of the attitude and actions of management and those charged with governance concerning the entity's internal control and its
Importance in the entity. This best describes dealing with
A) a key control objective.
B) the control environment.
C) mitigation of audit risk.
D) financial statement assertions.

Question

Quizplus · Accepted Answer

The concept of "attitude and actions of management and those charged with governance" refers to the control environment, one of the components of internal control. Dealing with the control environment is necessary for ensuring effective internal control and mitigating audit risk. However, it is not specifically related to key control objectives or financial statement assertions.

Stanley Morgan Has Learned That It Is Important to Be