The Five Components of Internal Control Articulated in the 2013

question 68

True/False

The five components of internal control articulated in the 2013 COSO Report include Control Environment, Risk Assessment, Control Activities, Information & Communication, and Monitoring Activities.

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Definitions:

Computer-based Training

A method of learning that utilizes computer technology to deliver educational programs to participants.

On-the-job Learning

The process of acquiring skills, knowledge, and competencies as a result of direct experience or performing tasks and activities in a work setting.

Low-tech

Technologies that are not advanced or complex, often easy to use and with a focus on practicality and accessibility.

Substance Abusing Employees

Workers who engage in the excessive or harmful use of drugs or alcohol, potentially impacting their performance and workplace safety.