Your friend, Wendy, plans to open a hair salon. Wendy states that she does not have time to develop and implement a system of internal controls.

Your friend, Wendy, plans to open a hair salon. Wendy states that she does not have time to develop and implement a system of internal controls. a. Explain to Wendy the objectives of a system of internal control. b. Explain to Wendy at least 4 key controls she must establish to protect herself against fraud. You should state specific internal control principles and relate your answer to her hair salon business.