Define internal control over financial reporting

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Reference no: EM133419897

Question 1. Define internal control over financial reporting. Describe (be specific) the responsibilities of management and auditors for internal control over financial reporting in relation to a public company audit. Include a discussion of testing and reporting controls.

Question 2. Discuss auditors' responsibility for fraud detection in an audit, what steps do they take to meet that responsibility, and how do they respond to the risk of fraud? Be specific. What are the two main types of fraud, and which is of most concern to auditors? Why?

Reference no: EM133419897

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