An audit of a publicly traded client and an audit of a non-public client have different requirements of the audit when it comes to testing the client's internal controls. 

Briefly explain what the differences are and  why there are differences.

What are the five components of a properly designed internal control system according to COSO? Briefly describe each one.

What is the fraud triangle? Briefly describe it. Then, think about a fraud that might occur (or use an actual example) and explain how each of the components of the fraud triangle played a part in allowing the fraud to occur.

What is a "bank reconciliation"? How can an auditor use a bank reconciliation as a means of gaining assurance about a client's cash balance? Briefly describe.