Final answer:
The correct answer is 'Analysis of control procedures,' which is not one of the five components of internal control according to the COSO framework. The five components are Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring.
Step-by-step explanation:
The question pertains to the components of internal control systems in organizations. Internal control is a key aspect of corporate governance, risk management, and effective business operations. According to the widely recognized framework established by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), there are five main components of an internal control system:
- Control environment
- Risk assessment
- Control activities
- Information and communication
- Monitoring
Reviewing the options provided, "Analysis of control procedures" is not explicitly listed as one of the five components of internal control according to the COSO framework. Instead, 'Control activities' might be what the question refers to, which involves the establishment of policies and procedures that help ensure management directives are carried out.