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What are the elements of internal control?
An organization establishes a system of internal control to help it manage many of the risks it faces, such risks are classified as follows:- * Inherent Risk * Control Risk * Detection Risk Establishing an internal control is the responsibility of the management, the elements (components) of internal control framework are the following:- * Control environment * Risk Assessment * Control Activities * Information & Communication * Monitoring
Who designates the Internal Control Administrator within the reporting organization and the appoints an Internal Control Administrator in the Assessable Unit.?
Senior Responsible Official , Assessable Unit Manager
Who is responsible for making sure an organization's internal control system is adequate?
The board of directors and its audit committee have responsibility for making sure the internal control system within the organization is adequate
What is the responsible for Providing Leadership A Positive Command Climate And Support For The Army Internal Control Process And Designating A Senior Responsible Official For The Managers' Internal C?
The responsibility for providing leadership, fostering a positive command climate, and supporting the Army Internal Control Process typically falls to senior leaders and commanders within the Army. They are tasked with designating a Senior Responsible Official (SRO) who oversees the Managers' Internal Control Program, ensuring compliance with internal control standards and promoting accountability. This leadership role is crucial for maintaining effective governance and operational integrity within the Army.
Who is responsible for reviewing the actions of COs and DAOs under their control to ensure adherence to established policy procedures and internal controls?
Supervisors
What are the elements of internal control?
An organization establishes a system of internal control to help it manage many of the risks it faces, such risks are classified as follows:- * Inherent Risk * Control Risk * Detection Risk Establishing an internal control is the responsibility of the management, the elements (components) of internal control framework are the following:- * Control environment * Risk Assessment * Control Activities * Information & Communication * Monitoring
Who is responsible for establishing access permissions to network resources in the DAC access control model?
the owner of the resource.
The designates the Internal Control Administrator within the reporting organization and the appoints an Internal Control Administrator in the Assessable Unit.?
Senior Responsible Official , Assessable Unit Manager
Who designates the Internal Control Administrator within the reporting organization and the appoints an Internal Control Administrator in the Assessable Unit.?
Senior Responsible Official , Assessable Unit Manager
Who is responsible for making sure an organization's internal control system is adequate?
The board of directors and its audit committee have responsibility for making sure the internal control system within the organization is adequate
What are elements of internal control?
An organization establishes a system of internal control to help it manage many of the risks it faces, such risks are classified as follows:- * Inherent Risk * Control Risk * Detection Risk Establishing an internal control is the responsibility of the management, the elements (components) of internal control framework are the following:- * Control environment * Risk Assessment * Control Activities * Information & Communication * Monitoring
What is the responsible for Providing Leadership A Positive Command Climate And Support For The Army Internal Control Process And Designating A Senior Responsible Official For The Managers' Internal C?
The responsibility for providing leadership, fostering a positive command climate, and supporting the Army Internal Control Process typically falls to senior leaders and commanders within the Army. They are tasked with designating a Senior Responsible Official (SRO) who oversees the Managers' Internal Control Program, ensuring compliance with internal control standards and promoting accountability. This leadership role is crucial for maintaining effective governance and operational integrity within the Army.
What is the most significant contribution of Darius I?
He stabilised the empire by defining its borders and establishing 20 governors to control 20 provinces to control internal and external security, collect taxes and initiate public works.
Who is responsible for reviewing the actions of COs and DAOs under their control to ensure adherence to established policy procedures and internal controls?
Supervisors
Difference between internal audit and internal control systems?
Distinguish between internal audit and internal control.
When dealing with internal control standards a is the foundation for all other standards?
The foundation for all internal control standards is the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework. This comprehensive framework outlines key components and principles that guide organizations in establishing effective internal controls, ensuring reliability in financial reporting, compliance with laws, and operational efficiency. By providing a structured approach, the COSO framework serves as the baseline for developing and assessing internal control systems across various organizations.
Having one person responsible for the related activities of ordering merchandise receiving goods and paying for them as a internal control?
increases the potential for errors and fraud
