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There are Inherent Limitations of an Accounting and Internal Control System operating at the audit client:

Examples are:

Management override of Internal Controls

Human error (typing mistakes).

Cost/benefit trade off (where it’s not cost feasible to implement controls)

Practice of fraud and intentional misrepresentation by the management is also an Inherent Limitation for the Audit. ( to be discussed in ISA 240 )

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owner: Shaun2099 - (no access) - H1 BasicConcepts.pdf, p8


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