ITPEC IP October 2020 Question 64
ITPEC IP October 2020 — Question 64 of 100
Monitoring in internal control continually or periodically evaluates whether controls are present and operating effectively. Deficiencies are identified, reported to responsible parties, and corrected so the control system remains suitable as risks and operations change.
Answer (a)
Why not others:
- promoting legal compliance is one control objective, not the definition of monitoring
- constructing the control organization belongs to establishing the control environment
- analyzing risks is risk assessment, a separate internal-control component
Key rule: Monitoring checks the ongoing effectiveness of the entire internal-control system and drives correction of weaknesses.
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