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What Are the Five Phases of an AIS Audit

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What are the five phases of an AIS audit?


Definitions:

Independent Entity

An organization or body that operates autonomously, without control by another organization.

Partnership Law

The branch of law dealing with the formation, operation, and dissolution of business partnerships, outlining the rights and responsibilities of partners.

Fiduciary Duty

A legal obligation of one party to act solely in the interest of another party, such as a trustee to a beneficiary.

Self-interest

The focus on one's own benefit or advantage, especially when pursued without regard for others.

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