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You are an employee at a full-service bookkeeping and auditing firm called Accounting Solutions. Accounting firms are often asked to perform consulting services for clients. Your new client, Auto Parts Unlimited, is seeking a loan for an expansion project and their lender has asked about the business control and documentation procedures. Bob, the owner of Auto Parts Unlimited, has asked for your help. You visit Auto Parts Unlimited, talk with employees, and make the following observations:
After your visit, you prepare a memo to Bob addressing the importance of internal control procedures and make suggestions for improvement. In correct memo format, address these topics:
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