How does management assess risk

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Reference no: EM132964813

Question: CAS 315 sets out 5 components of internal controls. You have been engaged by West Coast Manufacturing to help them establish internal controls within their business. West Coast Manufacturing is a business fabricating steel for the construction industry in BC.

First, explain to the client, each of the 5 components. Then, provide a specific examples for each component of internal control. (How does management establish a strong control environment? How does management assess risk? etc)

Reference no: EM132964813

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