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DR Philip

The document outlines the components of an internal control system, highlighting the relationship between independent and dependent variables. Key elements include information and communication, monitoring, risk assessment, control environment, and control activities, all aimed at detecting and preventing fraud. Effective oversight, risk management, and commitment to competence are emphasized as critical for the success of the internal control system.

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omondiv394
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11 views1 page

DR Philip

The document outlines the components of an internal control system, highlighting the relationship between independent and dependent variables. Key elements include information and communication, monitoring, risk assessment, control environment, and control activities, all aimed at detecting and preventing fraud. Effective oversight, risk management, and commitment to competence are emphasized as critical for the success of the internal control system.

Uploaded by

omondiv394
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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INDEPENDENT VARIABLE DEPENDENT VARIABLE

INTERNAL CONTROL SYSTEM

INFORMATION AND
COMMUNICATION
*RELEVANCE
*RELIABILTY

MONITORING
*EFFICIENT OVERSIGHT

DETECTION AND PREVENTION OF FRAUD


RISK ASSESSMENT
*RISK IDENTIFICATION
*EFFECTIVE OVERSIGHT
*RISK ANALYSIS
*RISK MANAGEMENT *POLICY AND PROCEDURES

CCONTROL ENVRONMENT
*MANAGEMENT
*COMMITMENT TO COMPETENCE

CONTROL ACTIVITIES
*APPROVALS
*VERIFICATION

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