Visit a business, such as Wal-Mart, a grocery store, retail store, or perhaps a company where you
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Question:
Visit a business, such as Wal-Mart, a grocery store, retail store, or perhaps a company where you have worked (or are currently working). Identify and describe ONE internal control in the company that you have observed. How does the control relate to one of the five elements of an effective internal control system? What internal control documentation is used, if any? What risks of material financial statement misstatement are mitigated by the control? Be very specific in your explanation to these questions.
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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