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List the fundamental Concepts that Are Embodied in the Definition

Question 36

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List the fundamental concepts that are embodied in the definition of internal control as per the COSO report:
…a process, effected by an entity's board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:
-reliability of financial reporting;
-compliance with applicable laws and regulations;
-effectiveness and efficiency of operations.

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-Internal control is a process. It is a ...

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