The overall attitude and awareness of an entity rsquo s board of directors concerning the importance...........

Auditing Concept of Auditing

The overall attitude and awareness of an entity’s board of directors concerning the importance of internal control is reflected in

Accounting controls

Control environment

Control procedures

Supervision

- Option 1: Accounting controls

- Focus on safeguarding assets and ensuring accurate financial reporting.

- Concerned with specific procedures and records.

- Option 2: Control environment

- Reflects the organization's overall attitude, awareness, and actions regarding internal controls.

- Is influenced by the board of directors, management, and other personnel.

- Establishes the foundation for effective internal control by guiding discipline and structure.

- Option 3: Control procedures

- Specific practices to achieve objectives and mitigate risks.

- Include tasks like authorization, verification, and reconciliation.

- Option 4: Supervision

- Involves overseeing operations and staff.

- Ensures that policies and procedures are carried out effectively.

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