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What is the role of internal control in a company's external financial reporting process and how does it factor into the performance of a GAAS

What is the role of internal control in a company's external financial reporting process and how does it factor into the performance of a GAAS audit for a non-issuer? Specifically, what considerations should an auditor give to his/her client's internal control when developing an audit strategy and how should that strategy (as it relates to internal control) be developed? Be sure to cite relevant guidance from the auditing standards in your response.

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