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Read the case study and answer CapeTown Essentials has recently implemented a new financial software...

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Accounting

Read the case study and answer CapeTown Essentials has recently implemented a new financial software system, and while they have taken steps to establish certain internal controls, they are aware that no system is foolproof. Based on your understanding of the limitations of internal controls, explain why, despite the company's best efforts, they might still face challenges in achieving their objectives. Specifically, discuss the potential limitations that could hinder the effectiveness of their internal control system. QUESTION 5 (10 Marks) CapeTown Essentials (Pty) Ltd has recently undergone a comprehensive review of its internal control system. The review highlighted various components of internal controls. Given this recent review of internal controls: a) Identify the components of internal controls that wouldve been included in this review. (5 Marks) b) Explain the significance of each component in ensuring the effectiveness of CapeTown Essentials' internal control system. (5 M

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