What are the internal control uses

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Question - The auditor is required to report on internal controls of company and not to use certain audit methods. The auditor has to report whether the internal control is adequate which changes the auditing process. Auditors need not be involved in the assessment of controls. This is a positive one that help to prevent frauds occurrence due to lack of control.

Are Internal Controls used to "protect assets"?

What are the internal control uses and what assets are we talking about?

Reference no: EM132543431

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