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5-1. The definition of internal control as contained in COSOs Internal ControlIntegrated Framework and the professional standards is quite broad and comprehensive. Required: a .
5-1. The definition of internal control as contained in COSOs Internal ControlIntegrated Framework and the professional standards is quite broad and comprehensive.
Required:
a. Define internal control and its purpose.
b. Explain the major concepts that are included in the definition of internal control.
c. List the five components of internal control.
d. Identify the major limitations of internal control.
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