Internal control means the process designed, implemented and maintained by the management, those charged with governance (TCWG) and other personnel provide the reasonable assurance about the: Reliability of Financial Statement. Compliance with laws and regulations. Safeguarding of assets of the entity and Effective and efficient operations. To discuss: Tools used for documenting the understanding of internal control

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Chapter 6, Problem 6.8RQ

To determine

Concept Introduction:

Internal control means the process designed, implemented and maintained by the management, those charged with governance (TCWG) and other personnel provide the reasonable assurance about the:

Reliability of Financial Statement.

Compliance with laws and regulations.

Safeguarding of assets of the entity and

Effective and efficient operations.

To discuss:Tools used for documenting the understanding of internal control

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