Which of the Following Describes the Internal Control Component Risk

question 146

Multiple Choice

Which of the following describes the internal control component risk assessment?

• A) Internal auditors monitor company controls to safeguard assets, and external auditors monitor the controls to ensure that the accounting records are accurate.
• B) Risk assessment is the "tone at the top" of the business.
• C) A company must identify its risks.
• D) Risk assessment is designed to ensure that the business's goals are achieved.

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Definitions:

Employer Guidelines

A set of directions or rules provided by an employer to outline expected behaviors and procedures within the workplace.

National Origin

Refers to the country or geographic region where an individual was born or where their ancestors came from, often considered in anti-discrimination policies.

Essential Job Functions

The fundamental duties and responsibilities that are core to a particular job, which must be performed by the employee holding that position.

Bona Fide Seniority System

A legally recognized system within a workplace that rewards employees based on length of service, often affecting pay, benefits, and promotions.