financial accounting

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Q1. Define the COSO framework(Committee of Sponsoring Organizations of the Treadway Commission). Based on the power point slides posted on the I-learn website and any other resource, explain how the COSO framework provides guidance for the Internal Audit profession. (Limit your answer to 4 pages each 1.5 spaced)

Q2. Very briefly explain the importance of the topics covered in 1. Balance sheet ,income statement, cash flow statement, 2. Free cash flow, WACC, 3.Cost accounting to the development of accounting and auditing students. (half page)