Lumber Construction is deciding which internal control framework to adopt for the design and operation of its internal control system. Accordingly, the company's senior management would like you to advise them on the COSO internal control framework.

Prepare a memo to senior management describing the following aspects of the framework: its definition of internal control, its components, and its limitations.

Type your communication in the response area below.

REMINDER: Your response will be graded for technical content and writing skills. Technical content will be evaluated for information that is helpful to the intended audience and clearly relevant to the issue. Writing skills will be evaluated for development, organization, and the appropriate expression of ideas in professional correspondence. Use an appropriate business format with a clear introduction, body, and conclusion. Do not convey information in the form of a table, bullet-point list, or other abbreviated presentation.