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In: AccountingCompanies lose millions of dollars each year through employeetheft and fraud. To prevent this, internal...Companies lose millions of dollars each year through employeetheft and fraud. To prevent this, internal controls areimplemented. We will examine the types of controls companies use,and discuss what happens when these controls are missing.Consider this scenario: You own a small business with 25employees. In your initial post, explain which internal controlsyou would use to protect your assets and ensure that your financialstatements are accurate.
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