What Is Meant By Monitoring?

1.	What Is Meant By Monitoring?
Answer» Monitoring is MANAGEMENT’s process of assessing the quality of internal control performance over TIME. Accordingly, management MUST assess the design and operation of controls on a timely basis and take necessary corrective actions. Monitoring may involve: separate evaluations, the use of internal auditors, and the use of communications from outside parties (e.g., COMPLAINTS from customers and regulator COMMENTS). Monitoring is management’s process of assessing the quality of internal control performance over time. Accordingly, management must assess the design and operation of controls on a timely basis and take necessary corrective actions. Monitoring may involve: separate evaluations, the use of internal auditors, and the use of communications from outside parties (e.g., complaints from customers and regulator comments).

Answer»

Monitoring is MANAGEMENT’s process of assessing the quality of internal control performance over TIME. Accordingly, management MUST assess the design and operation of controls on a timely basis and take necessary corrective actions.

Monitoring may involve:

separate evaluations, the use of internal auditors, and the use of communications from outside parties (e.g., COMPLAINTS from customers and regulator COMMENTS).

Monitoring is management’s process of assessing the quality of internal control performance over time. Accordingly, management must assess the design and operation of controls on a timely basis and take necessary corrective actions.

Monitoring may involve:

separate evaluations, the use of internal auditors, and the use of communications from outside parties (e.g., complaints from customers and regulator comments).

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