ITPEC IP October 2024 Question 63
ITPEC IP October 2024 — Question 63 of 100
Monitoring is the continuing evaluation of whether internal controls are present and functioning effectively. Through ongoing supervision, periodic assessment, exception reporting, and follow-up, management identifies controls that no longer work as designed and makes corrections. Monitoring therefore helps the control system remain effective as operations and risks change.
Answer (a)
Why not others:
- (b) legal and regulatory compliance is an objective supported by internal control, not the definition of monitoring
- (c) establishing responsibilities and structure is part of creating the control environment
- (d) analyzing threats to objectives belongs to risk assessment
Key rule: Risk assessment determines what could go wrong; control activities address it, and monitoring checks continuously or periodically that the controls still work.
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