Match Seven of the Terms (A-I) with the Definitions Provided

Short Answer

Match seven of the terms (a-i) with the definitions provided below (1-7):
a. Control environment
b. Control activities
c. Independent checks on performance
d. Internal control
e. Monitoring
f. Separation of duties
g. General authorization
h. Specific authorization
i. Risk assessment
________ 1. Management's ongoing and periodic assessment of the quality of internal control performance to determine that controls are operating as intended and are modified when needed.
________ 2. Company-wide policies for the approval of all transactions within stated limits.
________ 3. The actions, policies, and procedures that reflect the overall attitudes of top management, directors, and owners of an entity about internal control and its importance to the entity.
________ 4. Segregation of the following activities in an organization: custody of assets, accounting, authorization, and operational responsibility.
________ 5. Management's identification and analysis of risks relevant to the preparation of financial statements in accordance with an applicable accounting framework.
________ 6. Policies and procedures that help ensure that necessary actions are taken to address risks in the achievement of the entity's objectives.
________ 7. A process designed to provide reasonable assurance regarding the achievement of management's objectives in the following categories: (1) reliability of financial reporting, (2) effectiveness and efficiency of operations, and (3) compliance with applicable laws and regulations.