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I. Short answer questions (5 points each, 40 points total): What do we mean by business risk? Information risk? Discuss how strong internal control effects

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I. Short answer questions (5 points each, 40 points total): What do we mean by business risk? Information risk? Discuss how strong internal control effects an audit. Describe the three types of audits: Financial, compliance, and operational. Which auditing principle do you believe is the most important? Why

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