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1. In understanding a client's internal control, the most important aspect of any internal control is Hint: Think of substance versus form a. having competent
1. In understanding a client's internal control, the most important aspect of any internal control is Hint: Think of substance versus form a. having competent and trustworthy personnel who follows internal control policies and procedures b. obtaining sufficient information about a client's risk assessment relevant to the preparation of financial statements. e. separating the function (duty) of authorization, record keeping, and asset custody d. monitoring th e operating effectiveness and efficiency of internal controls by management
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