Explanation:
Preventive controls are one of the four types of controls classified by the Institute of Internal Auditors (IIA).
The IIA functionally classifies internal controls into four primary categories:
While Key controls, Manual controls, and Automated controls represent valid ways to classify controls (e.g., by importance or by their nature/implementation method), they do not fall under the specific four-type functional classification model adopted by the Institute of Internal Auditors discussed in this context.
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Q.5077 Among the four ways to address risk, treatment is the most common risk response, which involves risk mitigation through various control plans. Controls can be of different classes. In this chapter, however, we have adopted the classification used by the Institute of Internal Auditors. Which of the following types of control fall under this classification?
A
Preventive controls
B
Key controls
C
Manual controls
D
Automated controls
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