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Respond to the following in a minimum of 175 words: Internal control is a process that is designed to help firms reach their goals and objectives as measured with respect to maintaining reliability, operational efficiency and effectiveness, and consistent financial reporting

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Respond to the following in a minimum of 175 words:

• Internal control is a process that is designed to help firms reach their goals and objectives as measured with respect to maintaining reliability, operational efficiency and effectiveness, and consistent financial reporting. In addition, adequate internal control ensures mitigating risks and compliance with regulations and policies.
• Explain the five components of internal control.