1. control has been described as a closed system consisting of six elements. One of the six elements is

asetting performance standards.

Badequately securing data files.

Capproval of audit charter.

Destablishment of independent audit function.

A yes. There are four essential elements of control: 1. establishment of objectives, 2. adoption of standards, 3 comparison of actual results with adopted standards, and 4.corrective action taken as needed. These four elements of control provide reasonable assurance to management that established objectives and goals will be achieved. However, Sawyer’s Internal Auditing (iia 1988,p,979),on which this question is based, describes a six-element system: 1 setting standards, 2 measuring performance,, 3 analyzing performance and comparing it with the standards, 4 evaluating deviations and bring them to the attention of appropriate persons, 5 correcting deviations, and 6 following up on corrective action.

Badequately securing data files is not an element of a closed control system.