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4 (20 MARKS) A. One of the objectives of internal control is to safeguard the firm's assets. Safeguarding assets aim to ensure that assets are
4 (20 MARKS) A. One of the objectives of internal control is to safeguard the firm's assets. Safeguarding assets aim to ensure that assets are deployed for their proper purposes and are not vulnerable to misuse or theft. Provide two (2) examples for each of the following components in safeguarding assets of the firm: B. C. i) Control environment ii) Control activities (4 marks) (4 marks) The Fraud Triangle outlines three elements (i.e. Perceived Opportunity, Rationalisation and Perceived Pressure) that typically present the reasons why an individual commits fraud. You are required to: i) ii) Provide one (1) situation that could lead to fraudsters' opportunities to commit fraud. (2 marks) Provide one (1) situation that could lead to fraudsters' pressure to commit fraud. (2 marks) Specifically, provide four (4) examples of how technology helps prevent the manipulation of accounting records. (8 marks)
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