Accounts Payable Specialist Certification IOFM
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compares data about current performance against benchmarks to measure
the extent that goals are being met
Choose an answer
1 Detective Process Controls 2 Segregation of Duties
3 Performance Measurement 4 Compensating Controls
Don't know?
, Terms in this set (75)
a system of processes and procedures intended to
Internal Controls provide a reasonable safeguard of company assets
and other company resources
2002; requires that all publicly traded companies
Sarbanes-Oxley Act establish internal controls and document, test, and
maintain those controls to ensure their effectiveness
By setting objectives, a measure the effectiveness of internal controls by how
company can: well the objectives are achieved
Control Environment;
Risk Assessment;
COSO's 5 Components of
Control Activities;
Internal Controls
Information and Communications;
Monitoring;
foundation of internal control systems; provides the
Control Environment structure and discipline; examples: integrity, ethics,
values, and competence
an organization must assess risk in light of their
Risk Assessment
strategy and objectives
the policies and procedures established to insure
actions are executed to achieve the organization's
Control Activities
objectives; examples: authorization, approvals,
reconciliation, etc
reliable and relevant information from both internal
Information and
and external sources must be captured, processed,
Communications
and communicated to all necessary people.
ensures that internal controls continue to operate
Monitoring efficiently and effectively; examples: self-assessments,
peer reviews, and internal auditing
EXAM Newest Complete All Questions And
Correct Detailed Answers (Verified Answers)
|Already Graded A+||Brand New Version!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
compares data about current performance against benchmarks to measure
the extent that goals are being met
Choose an answer
1 Detective Process Controls 2 Segregation of Duties
3 Performance Measurement 4 Compensating Controls
Don't know?
, Terms in this set (75)
a system of processes and procedures intended to
Internal Controls provide a reasonable safeguard of company assets
and other company resources
2002; requires that all publicly traded companies
Sarbanes-Oxley Act establish internal controls and document, test, and
maintain those controls to ensure their effectiveness
By setting objectives, a measure the effectiveness of internal controls by how
company can: well the objectives are achieved
Control Environment;
Risk Assessment;
COSO's 5 Components of
Control Activities;
Internal Controls
Information and Communications;
Monitoring;
foundation of internal control systems; provides the
Control Environment structure and discipline; examples: integrity, ethics,
values, and competence
an organization must assess risk in light of their
Risk Assessment
strategy and objectives
the policies and procedures established to insure
actions are executed to achieve the organization's
Control Activities
objectives; examples: authorization, approvals,
reconciliation, etc
reliable and relevant information from both internal
Information and
and external sources must be captured, processed,
Communications
and communicated to all necessary people.
ensures that internal controls continue to operate
Monitoring efficiently and effectively; examples: self-assessments,
peer reviews, and internal auditing
