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Management asserts that entity-level controls are designed adequately and operating effectively to reduce to an acceptably low level the risk of managers and employees embellishing

Management asserts that entity-level controls are designed adequately and operating effectively to reduce to an acceptably low level the risk of managers and employees embellishing performance results or misusing company resources. What specific procedures would you as the auditor use to obtain audit evidence about the design and implementation of the clients internal control system? What key controls would you expect to find in place if managements assertion is true? What are the inherent limitations of internal control?

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