… The control environment within small entities is likely to differ from larger entities. For example, those charged with governance in small entities may not include an independent or outside … arising from a lack of segregation of duties in a small business; it may, however, increase other risks, for …

… unlikely to be an established risk assessment process in a small entity. In such cases, it is likely that management … identify risks through direct personal involvement in the business. Irrespective of the circumstances, however, …

… The information system and related business processes relevant to financial reporting in small entities, including relevant aspects of that system … in larger entities, but its role is just as significant. Small entities with active management involvement may not …