Which is not a component of Internal Control? a. Control Procedures b. Control Activities c. Risk Assessment d. Information and Communication e. Monitoring
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- 7 Which one of the following is the iterative component of internal control system for mitigating risk of the entity? a. Risk Assessment b. Information and Communication c. Control Environment d. Monitoring Activities1. It is a method of control in limited areas where engineering control methods at the source are not practical. a. Adjusting work schedulesb. Reduction of work periodsc. Job Rotationd. Education of supervisors 2. Used as a way to reduce employee exposure to toxic chemicals or harmful agents must be used with care. a. Adjusting work schedulesb. Reduction of work periodsc. Job Rotationd. Education of supervisors 3. is process equipment-oriented. The aim of the safety and health professional should be to teach them about the safety and health hazards that may be found in work areas. a. Adjusting work schedulesb. Reduction of work periodsc. Job Rotationd. Education of supervisors 4. In what condition of Dispersion of contaminant is 65 fpm belong? a. Released with practically no velocity into quiet airb. Released at low velocity into moderately still airc. Active generation into zone of rapid air motiond. Released at high initial velocity into zone at very rapid air motion 5. In what…17 As an auditing student you have gained the understanding to the Internal Control System and its Components. Choose component of internal control system which involves setting up of the standards, structures and processes. a. Control Environment b. Monitoring Activities c. Information and Communication d. Risk Assessment
- 1. What are the Principles of Control Environment and its implications for business functions? 2. Differentiate the following: a. Systematic Riskb. Unsystematic Riskc. Financial Riskd. Non-Financial Risk1. There are two approaches to the implementation of ERM, namely the measurement driven approach and the process-control approach. What is the focus of the measurement driven approach in implementing ERM? 2. Write a small paragraph on the concept of maximum foreseeable loss (MFL) and its significance in risk management. Question 2 1. Distinguish between the.'Maximin', 'Maximax·• and the 'Minimax regret' decision strategy. 2. Determining the size or quantum of a possible loss provides a backdrop against which efforts to manage the risk can be measured .Highlight the measures used to enhance the description of possible loss more accuratelyBackground: Data about the frequency of adverse events related to inappropriate care in hospitals come from studies of medical records as if they represented a true record of adverse events. In a prospective, observational design we analyzed discussion of adverse events during the care of all patients admitted to three units of a large, urban teaching hospital affiliated to a university medical school. Discussion took place during routine clinical meetings. We undertook the study to enhance understanding of the incidence and scope of adverse events as a basis for preventing themMethods: Ethnographers trained in qualitative observational research attended dayshift, weekday, regularly scheduled attending rounds, residents' work rounds, nursing shift changes, case conferences, and other scheduled meetings in three study units as well as various departmental and section meetings. They recorded all adverse events during patient care discussed at these meetings and developed a classification…
- Background: Data about the frequency of adverse events related to inappropriate care in hospitals come from studies of medical records as if they represented a true record of adverse events. In a prospective, observational design we analyzed discussion of adverse events during the care of all patients admitted to three units of a large, urban teaching hospital affiliated to a university medical school. Discussion took place during routine clinical meetings. We undertook the study to enhance understanding of the incidence and scope of adverse events as a basis for preventing them Methods: Ethnographers trained in qualitative observational research attended dayshift, weekday, regularly scheduled attending rounds, residents' work rounds, nursing shift changes, case conferences, and other scheduled meetings in three study units as well as various departmental and section meetings. They recorded all adverse events during patient care discussed at these meetings and developed a…13. Enterprise Risk Management (ERM) is designed to achieve which of the following four categories of objectives, except Group of answer choices None of the choices Strategic, Reporting, Operations, Compliance Operations, Reporting, Compliance, Strategic Strategic, Operations, Reporting, Compliance Reporting, Compliance, Strategic, OperationsA conceptually logical approach to the auditor’s evaluation of internal controlconsists of the following four steps:I. Determining the internal controls that should prevent or detect errors and fraud.II. Identifying control deficiencies to determine their effect on the nature, timing, orextent of auditing procedures to be applied and suggestions to be made to the client.III. Determining whether the necessary internal control procedures are prescribedand are being followed satisfactorily.IV. Considering the types of errors and fraud that can occur.What should be the order in which these four steps are performed?(1) I, II, III, and IV (3) III, IV, I, and II(2) I, III, IV, and II (4) IV, I, III, and II
- 1. HighQualityasavalueproposition:Paras took on himself to ensure quality becomes a top differentiator and a value proposition to its customers. They started working closely with beekeepers in the Himachali region around the Himalayan foothills and in Muzaffarpur, where they encourage ethical beekeeping. Ethical beekeeping is a format where a hundred per cent of the honey is harvested at no point. Only 60% will be taken out of the hives that, or through that process, at any point, 40% will be left back for the bees.Also, through the exploration and pursuit of pure honey, Paras came across multiflora honey, which is most commonly used as a source of honey. But unfortunately, adulteration happens when a blend of multiflora honey is packaged and sold. Paras ensured that the lab tested the source from which they collected the honey to ensure the promise of purity was kept at every stage. Moreover, while sourcing the honey, the honey twig ensured that it was entirely antibiotic-free.2.…1. HighQualityasavalueproposition:Paras took on himself to ensure quality becomes a top differentiator and a value proposition to its customers. They started working closely with beekeepers in the Himachali region around the Himalayan foothills and in Muzaffarpur, where they encourage ethical beekeeping. Ethical beekeeping is a format where a hundred per cent of the honey is harvested at no point. Only 60% will be taken out of the hives that, or through that process, at any point, 40% will be left back for the bees.Also, through the exploration and pursuit of pure honey, Paras came across multiflora honey, which is most commonly used as a source of honey. But unfortunately, adulteration happens when a blend of multiflora honey is packaged and sold. Paras ensured that the lab tested the source from which they collected the honey to ensure the promise of purity was kept at every stage. Moreover, while sourcing the honey, the honey twig ensured that it was entirely antibiotic-free.2.…Describe the four organization objective categories in the internal control framewor. How are they related to the ERM components pf internal control?