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In other words, it is a risk management plan that provides accurate and reliable information encourages operational efficiency safeguards the assets prevents/detects error and fraud These processes must be put in place to ensure that management lives up to this key responsibility An employee of Ellerback Event Planning recently stole thousands of dollars of the company's cash. The company has decided to install a new system of internal controls. Required As controller of Ellerback Event Planning, write a memo to the owner, Nick Flewelling, explaining what internal controls are and how they benefit the company. TO: Nick Flewelling FROM: Controller SUBJECT: Advantage of Good Internal Controls One of your key responsibilities is to control operations. Internal control consists of the process designed and put in place by management to provide reasonable assurance that the organization will achieve its objectives of An employee of Ellerback Event Planning recently stole thousands of dollars of the company's cash. The company has r, Nick Flewelling, explaining what internal controls trol consists of the process designed and put in anization will achieve its objectives of