Q.1: Internal control can be defined as "The whole system of controls, financial and otherwise, established by the management in order to cry one business of the enterprise, in an orderly and efficient manner, ensure adherence to management policies, safeguard the assets and secure as far as possible the complete liess and accuracy of the records. a) State and discuss the 5 components of internal control (10 marks) b) Explain any 4 control activities (GAMENDISH UNIVERSITY c) What problems do small companies face in terms of internal control systems (6 marks) d) of what significance are internal control systems to an auditor (3 marks) e) Examine the audit objectives (5 marks) Total 30 Marks