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725. The defi nition of internal control as contained in COSOs Internal ControlIntegrated Framework and the professional standards is quite broad and comprehensive. a. Defi

725. The defi nition of internal control as contained in COSOs Internal ControlIntegrated Framework and the professional standards is quite broad and comprehensive. a. Defi ne internal control and its purpose. b. Explain the major concepts that are included in the defi nition of internal control. c. List and describe the fi ve components of internal control. d. Identify the major limitations of internal control.

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