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Critical Criteria in Assessing Identified Internal Control Deficiencies

question 59

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Critical Criteria in Assessing Identified Internal Control Deficiencies.
What general factors should be considered by an auditor in evaluating whether or not a control deficiency is a material weakness, or a significant deficiency, or a control issue of lesser severity?


Definitions:

Defense Mechanisms

Unconscious psychological strategies brought into play by various entities to cope with reality and to maintain self-image.

Unrealistically High

A description for targets, expectations, or goals that are significantly beyond what is achievable under normal conditions.

Performance Aspirations

The desires or goals an individual has regarding their performance in certain tasks or areas of life.

Mario

A fictional character from the video game franchise by Nintendo, recognized as their mascot and widely known for his adventures in the Mushroom Kingdom.

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