Which GAO standard involves assessing the quality of performance over time and ensuring audit findings are resolved promptly?

Which GAO standard involves assessing the quality of performance over time and ensuring audit findings are resolved promptly?

• A. Monitoring
• B. Control Environment
• C. Information and Communication
• D. Risk Assessment

Answer: (A)

Monitoring is the standard that ensures performance is checked over time and that audit findings are addressed promptly. It involves ongoing activities to evaluate whether controls are working as intended and separate evaluations to verify that deficiencies, including past audit findings, are remediated in a timely manner. This focus on sustained performance and timely corrective action is what ties the quality of operations to their ongoing oversight. By contrast, the control environment sets the overall tone and commitment to integrity, ethics, and accountability; information and communication covers the quality and flow of information needed to manage and monitor activities; and risk assessment centers on identifying and analyzing potential risks to achieving objectives. None of these specifically center on continuous evaluation and the prompt resolution of identified weaknesses the way Monitoring does.

Monitoring is the standard that ensures performance is checked over time and that audit findings are addressed promptly. It involves ongoing activities to evaluate whether controls are working as intended and separate evaluations to verify that deficiencies, including past audit findings, are remediated in a timely manner. This focus on sustained performance and timely corrective action is what ties the quality of operations to their ongoing oversight.

By contrast, the control environment sets the overall tone and commitment to integrity, ethics, and accountability; information and communication covers the quality and flow of information needed to manage and monitor activities; and risk assessment centers on identifying and analyzing potential risks to achieving objectives. None of these specifically center on continuous evaluation and the prompt resolution of identified weaknesses the way Monitoring does.