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…based on a framework of internal controls that it has established for this purpose. Because the cost of
internal control should not exceed the anticipated benefits, the objective is to provide reasonable, rather
than absolute, assurance that the financial statements are free of any material misstatements.
Management’s discussion and analysis (MD&A) is…
https://www.wichita.edu/_archive/services/controller/Accounting/_documents/afr_25.pdf