Answer :
The most accurate statement regarding the existing control activities component of the integrated framework is that Segregation of Duties is a critical preventative control activity.
Segregation of Duties refers to the practice of separating key tasks and responsibilities among different individuals to prevent fraud and errors. By assigning different individuals to authorize, record, and handle transactions, it becomes more difficult for any single person to carry out fraudulent activities without detection. This control activity ensures that no one person has complete control over a transaction from beginning to end, reducing the risk of errors or intentional misstatements. Segregation of Duties helps maintain the integrity of financial reporting and increases the overall effectiveness of the control environment.
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