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1. What is the definition of internal controls (based on the COSO Internal Control- Integrated...

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Accounting

1. What is the definition of internal controls (based on the COSO Internal Control- Integrated Framework)?
2. What are the 5 components of the COSO oInternal Control- Integrated Framework?
3. According to this COSO framework, what are the requirements for an effective system of internal control?
4. Select one principle for each of the 5 components of the COSO-Internal Control Framework and give one example for each.

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