Match Seven of the Terms (A- I) with the Definitions

question 12

Short Answer

Match seven of the terms (a- i) with the definitions provided below (1- 7):
a. control environment
b. control activities
c. independent checks on performance
d. internal control
e. monitoring
f. separation of duties
g. general authorisation
h. specific authorisation
i. risk assessment
1. Management's ongoing and periodic assessment of the quality of internal control performance to determine that controls are operating as intended and modified when needed.
2. Company- wide policies for the approval of all transactions within stated limits.
3. The actions, policies and procedures that reflect the overall attitudes of top management, directors and owners of an entity about control and its importance to the entity.
4. Segregation of the following activities in an organisation: custody of assets, accounting, authorisation and operational responsibility.
5. Management's identification and analysis of risks relevant to the preparation of financial statements in accordance with applicable accounting standards.
6. Policies and procedures that help ensure necessary actions are taken to address risks in the achievement of the entity's objective.
7. A process designed to provide reasonable assurance regarding the achievement of management's objectives in the following categories: (1) reliability of financial reporting (2) effectiveness and efficiency of operations and (3) compliance with applicable laws and regulations.

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Definitions:

Inattentional Blindness

A psychological phenomenon whereby an individual fails to perceive an unexpected stimulus in plain sight, due to the focus of attention elsewhere.

Selective Attention

The cognitive process of focusing on one particular object or task in the environment while ignoring other irrelevant stimuli.

Blindsight

A condition in which individuals with blindness caused by brain damage can still respond to visual stimuli without consciously perceiving them.

Dual Processing

The principle that our mind operates on two levels: a conscious deliberate level and an unconscious automatic level.