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Explain the required level of understanding internal control

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Reference no: EM132487736

Question 1. Explain how internal control relates to financial statement audit.

Question 2. Explain the required level of understanding internal control.

Question 3. Understand the two concepts of control risks (planned assessed level and assessed level). Understand deficiency in I/C, significant deficiencies and material weaknesses and auditors' responsibility in regards to the deficiencies.

Reference no: EM132487736

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