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Briefly describe how each of the following factors might affect the strength of an auditee's control environment:

a) Perceived value of controls by management

b) Clearly defined lines of authority

c) Formal policies and procedures

d) Adequate personnel with proper incentives

e) Documentation

f) Adequacy of control procedures and control monitoring

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  • Category:- Accounting Basics
  • Reference No.:- M940122

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