Which of the Following Is Not an Element of Internal

question 155

Multiple Choice

Which of the following is not an element of internal control?

• A) risk assessment
• B) monitoring
• C) information and communication
• D) cost-benefit considerations

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Definitions:

Accountability

The obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner.

Self-Awareness

Recognition of one's personal attributes, feelings, drives, and goals.

Norms

Socially accepted rules or standards that guide behavior in various situations.

Social Loafing

The phenomenon where individuals exert less effort to achieve a goal when working in a group compared to when working alone.