Final answer:
The correct answer is a. Preventive controls heavily rely on the people who implement and follow procedures, making them the most crucial element. Similarly, the most important rules for an institution are encapsulated in its code of conduct, as it outlines expected behavior and ethical guidelines.
Step-by-step explanation:
The most important element of any preventive control is typically the people. People are the ones who design, operate, maintain, and adhere to procedures and policies. Preventive controls are mechanisms put in place to stop undesirable events or outcomes before they happen, and while procedures and policies are important, they are only as good as the individuals who implement and follow them. Therefore, employees' understanding, buy-in, and adherence to these controls are crucial.
For the second question, perhaps the most important set of rules for any institution would be a. its code of conduct. A code of conduct provides guidelines for the behavior expected of members or employees. It is the ethical cornerstone of an institution, reflecting its values, norms, and desired behaviors. While a constitution, judicial guide, and procedural manuals like Robert's Rules of Order are significant, they generally serve in supporting roles to the foundational expectations set within the code of conduct.