One of the Components of Internal Control,the Control Environment,is Considered

question 21

True/False

One of the components of internal control,the control environment,is considered pervasive and the auditor should start the evaluation of controls at this level.

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Definitions:

Decision Making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

Audit Log

A record that tracks the sequence of activities or changes in a system, often used for security and compliance purposes.

Transaction Journal

A detailed record showing all the financial transactions of a business, used for accounting and auditing purposes.

Internal Control

Processes and procedures implemented by a company to ensure integrity of financial and accounting information, promote accountability, and prevent fraud.