Which of the Following Is Not One of the Five

question 38

Multiple Choice

Which of the following is not one of the five elements of internal control?

• A)Corporate governance.
• B)Control procedures.
• C)Control environment.
• D)Information system.

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Definitions:

Opportunity

A situation or condition favorable for the attainment of a goal.

Establishing Responsibility

The creation of clear roles and duties within an organization to ensure accountability and improve efficiency.

Independent Internal Verification

A control mechanism where the transactions and activities are verified by staff members who are not directly involved in those transactions or activities.

Authorization

The approval or permission granted to an individual or entity to perform a specific action or access certain resources.