2-Briefly discuss the interrelated components that should exist within an internal control system. In your opinion, which component is the most important and why? (150 words) An internal control system is designed with many procedures and methods to produce an effective result in the field of operations, finance reporting, fraud management and maintain compliance with laws and regulations within an organization. The internal control system involves five core components to execute its operations. 2-Briefly discuss the interrelated components that should exist within an internal control system. In your opinion, which component is the most important and why? (150 words) An internal control system is designed with many procedures and methods to produce an effective result in the field of operations, finance reporting, fraud management and maintain compliance with laws and regulations within an organization. The internal control system involves five core components to execute its operations.