The warehouse supervisor is performing a walkthrough of current warehouse disaster procedures to see if the...
The warehouse supervisor is performing a walkthrough of current warehouse disaster procedures to see if the company is truly prepared in the event of operations disruption. Which of the 2013 COSO IC framework components is this?
a. Control activities
b. Control environment
c. Monitoring
d. Information and communication
Homework Answers
Control Activities are the activities that help the management to mitigate the risk in order to ensure achievement of objectives.
Control environment refers to the standards, proccedures and policies that help in carrying out the internal control throughout the organization.
Information and communication Information is obtained by the organisation and then communicated throughout the organization in order to support the internal control components.
Monitoring refers to periodic evaluations to ensure that the internal control components are present and functioning.
In the given case, warehouse supervisor is performing the walkthrough of current warehouse disaster procedures to ensure that the company is truly prepared in the event of operations disruption. This refers to the periodic evaluation of internal control components and is monitoring.
Correct Option: c) Monitoring
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