What are the inherent limitations of internal control?

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  The human faction is important because there are inherent limitations to any system of internal control.

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  What level of assurance does the reader of a private company financial statement receive on the company's system of internal controls?

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  However, there are a few limitations to this review of internal controls. A few of the limitations are listed below. What has your experience been, or what have you read, about why these limitations exist?

• the components of the audit risk model

  Internal controls are ignored in setting inherent risk because they are considered separetly in the audit risk model as control risk. It is often an area of professional judgment on the part of an auditor.