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You are a senior accountant for Take and Make, an organization responsible for manufacturing arts and crafts supplies. Take and Make is still figuring out
You are a senior accountant for Take and Make, an organization responsible for manufacturing arts and crafts supplies. Take and Make is still figuring out its internal control structure. The organization wants to expand its internal control practices pertaining to the COSO framework, specifically the control environment and control activities. Your supervisor has asked you to write an interdepartmental memo for the accounting team reminding them of the importance of using the COSO framework in developing a fraud detection strategy. Your supervisor has asked that you also explain risks that your organization might face and how internal controls can help mitigate those risks
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