The definition of internal control as contained in COSOs Internal ControlIntegrated Frame-work and the professional standards is
Question:
a. Define internal control and its purpose.
b. Explain the major concepts that are included in the definition of internal control.
c. List and describe the five components of internal control.
d. Identify the major limitations of internal control.
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Related Book For
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany
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