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Discussing the elements and importance of internal control

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Reference no: EM131591301

Question - You are finishing up a first time audit on a new client who has grown rapidly over the last few years. They recognize the need to establish a system of internal control. Compose a letter to the client discussing the elements and importance of internal control. Cite professional literature and provide them with an action plan. Their accounting staff consists of an accounting manager, A/P, A/R, and payroll clerks plus a file clerk.

Reference no: EM131591301

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