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Explain internal control and internal audit

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Reference no: EM132519036

Question 1: There are many systems and processes designed by the management of a company to manage risk and minimize chance of error and fraud. Explain internal control, internal audit and external audit with examples.

Hint: for internal controls use(SOAPSPAM) Segregation of duties, Organisational structure , Authorisation and Approval , Physical Controls, Supervision, Personnel, Arithmetical and accounting controls, Management

Reference no: EM132519036

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