12. which element of internal control deals with establishing procedures for things such as handling of…
12. which element of internal control deals with establishing procedures for things such as handling of incoming checks, and which element deals with the oversight of the internal control systems?
Answer
Brief Explanations:
The element of internal control that deals with establishing procedures for handling incoming checks is the control - activities element. It involves the policies and procedures that help ensure management's directives are carried out. The element that deals with the oversight of the internal control systems is the monitoring element. Monitoring assesses the quality of internal control performance over time.
Answer:
The element dealing with establishing procedures for handling incoming checks is control activities. The element dealing with the oversight of the internal control systems is monitoring.