Question 3 "Internal controls are more than just about detection and prevention of fraud in an entity." Discuss and elaborate five (5) purposes of internal controls to an organisation, and provide relevant examples that leverage on IT to fulfil each of these internal control purposes accordingly.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 3
"Internal controls are more than just about detection and prevention of fraud in an entity."
Discuss and elaborate five (5) purposes of internal controls to an organisation, and provide
relevant examples that leverage on IT to fulfil each of these internal control purposes
accordingly.
Transcribed Image Text:Question 3 "Internal controls are more than just about detection and prevention of fraud in an entity." Discuss and elaborate five (5) purposes of internal controls to an organisation, and provide relevant examples that leverage on IT to fulfil each of these internal control purposes accordingly.
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