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For control objectives and controls; how do we answer these type of questions during examinations? How is it differentiated?
Control objectives are the high level objectives relating to what you want to achieve. E.g how do we stop an invoices being paid twice, how do we prevent unauthorised despatches.
Internal controls are how we might meet the objectives eg, cancel invoiced once paid or ensure each order is approved, each despatch is double-checked and is accompanied by a fully authorised, prenumbered despatch note.
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