Tag (SQ): Control Components

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AA – L2 – SA – Q5.6 – Internal Control Components

Components of internal control system.

Question

Select the appropriate component of a system of internal controls for each of the below examples.

The authorizing of inventory write-offs prior to inventory being scrapped.
The preparation of a reconciliation between the receivable’s ledger control account and the receivables ledger
A Control environment
B Control activity
C Information system and communication
D Information system and communication
E Control environment
F Control activity

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Find Related Questions by Tags, levels, etc.

Tags: Control Components, ICAG, Internal controls, Inventory, Receivables
Level: Level 2

Topic: Planning and Approach for Audit and Assurance Engagements