4.6课件 - for printing-9.pdf

Components of an internal control system 1 Control environment — Governance and management functions — Attitudes, awareness and actions of management — “Sets the tone” by creating a culture of honesty and ethical behaviour — Provide an appropriate foundation for the other components of internal control 2011年12月5分考题！ This is a licenced copy of BPP Material, intended solely for the use of the agreed licence holder. BPP LEARNING MEDIA Components of an internal control system 2 The entity’s risk assessment process — How management identifies risks and decides upon actions to manage them This is a licenced copy of BPP Material, intended solely for the use of the agreed licence holder. BPP LEARNING MEDIA Components of an internal control system 3 Information system — Consists of infrastructure, software, people, procedures and data — The related accounting records, supporting information and specific accounts in the financial statements that are used to record, process and report transactions This is a licenced copy of BPP Material, intended solely for the use of the agreed licence holder. BPP LEARNING MEDIA Components of an internal control system 4 Control activities —The policies and procedures that help ensure that management directives are carried out. —The categories most relevant to an audit are: — Performance reviews — Information processing — Physical controls — Segregation of duties (recording vs custody) This is a licenced copy of BPP Material, intended solely for the use of the agreed licence holder. BPP LEARNING MEDIA Components of an internal control system 5 Monitoring of controls — Assess the design and operation of controls over time — Ongoing monitoring is part of regular management activity — Separate monitoring may be performed by the internal audit function This is a licenced copy of BPP Material, intended solely for