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Five Components of Internal Controls
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Five Components of Internal Controls
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6. Internal Controls and Reporting Cash / Five Components of Internal Controls / Problem 6
Problem 6
Evaluate the effectiveness of a risk assessment process that only considers internal risks. What might be a potential drawback?
A
It focuses on the most critical risks.
B
It simplifies the risk assessment process.
C
It may overlook external risks that could impact the company.
D
It ensures comprehensive risk management.
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