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This post addresses trade-offs in internal control.

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What trade off should be consider when designing each internal control?

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When management is designing each internal control, the trade-off is generally internal validity versus external validity. The company should keep the focus on internal validity and on taking every step possible to create and maintain a highly effective internal control environment. By keeping the focus primarily ...

Solution Summary

The solution discusses the trade-offs that should be considered when designing each internal control. References are also provided.