Control activities and monitoring are one and the same. T or F

False.

Control activities and monitoring are not the same. They are two separate but related components of a system of internal controls.

Control activities refer to the policies and procedures put in place to ensure that the objectives of an organization are achieved effectively and efficiently. These activities help in preventing or detecting errors, fraud, and deviations from established processes. Examples of control activities include segregation of duties, authorization and approval processes, physical safeguards, and reconciliation of accounts.

Monitoring, on the other hand, involves the regular review and assessment of the effectiveness of control activities. It is the ongoing process of observing and evaluating the system of internal controls to ensure that they are operating as intended. Monitoring helps to identify any weaknesses or deficiencies in control activities so that corrective actions can be taken.

In summary, control activities are the actual measures implemented to achieve control objectives, while monitoring is the process of evaluating the effectiveness of those control activities.