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1) Respond to a manager who says that her firm does not need to implement internal controls over the assets, since the firm has only

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1) Respond to a manager who says that her firm does not need to implement internal controls over the assets, since the firm has only one employee, who is well trusted. (2) Can certain controls compensate for the omission of others? Give examples if such controls exist and indicate whether the compensatory effect is full or partial

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