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No control system is perfect. Be prepared to describe the major threats to the effectiveness of...

  1. No control system is perfect. Be prepared to describe the major threats to the effectiveness of any control system and explain why it is a threat.
  2. There are two levels of controls – entity and transaction. Describe the main differences between entity-level controls and transaction-level controls. Provide two examples of each to illustrate your answer.
  3. What is involved with the information and communication component and why is it important to the strength of internal controls.
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