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Dear Ibrahim! As you know budget is a planning & controlling tool for business,it is helpful to monitor at the money going in and out across a whole year Here are few ... See More
The controls designed to prevent an error before it occurs are preventive and controls designed to catch errors after occurrence are detective controls. i.e Segregation o ... See More
Preventive: (helps in preventing the risk before its occurence), some examples: Authorization and approval procedures; Supervision (assigning, reviewing/approving, guid ... See More