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Unit 1: Investment and finance cycle, and EFT payments, AUD 31 Unit 1…
Unit 1: Investment and finance cycle, and EFT payments
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Weakness, risks, and recommendations
Weakness: Absence of internal controls
Risk: What could possibly go wrong as a result of a weakness
Recommendation: Implemented controls to eliminate risk
Example:
No proper authorization of asset purchases. Risk of buying assets that are not needed. Proper authorization procedures must be in place
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