From: The Alchemy Inc. External Audit Team Date: September 23, 2008 Re: Internal Control Weaknesses Leave Alchemy Inc. Vulnerable to Errors, Fraud, and Abuse Internal controls represent an organization’s processes and procedures used to meet its goals and objectives and serve as a defense in safeguarding assets and preventing and detecting errors, fraud, and abuse. Effective internal controls provide reasonable assurance that an organization’s objectives are achieved through (1) reliable…
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