Describe the components of internal control, Auditing

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Describe the components of internal control

Response to the following questions:

1. What are management's incentives for establishing and maintaining strong internal control? What are the auditor's main concerns with internal control?

2. What are the potential benefits and risks to an entity's internal control from information technology?

3. Describe the five components of internal control.

If possible, please give examples to better understand your answers.

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Auditing: Describe the components of internal control

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Auditing: Describe the components of internal control

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