Which of the Following Factors in Assessing Severity of Internal

question 14

Multiple Choice

Which of the following factors in assessing severity of internal control deficiencies indicates that a deficiency that may have been considered a material weakness at an interim date would not be considered a material weakness at the year end?

• A)Remediation of a control deficiency.
• B)Existence of compensating controls.
• C)Complexity and subjectivity of the account balance.
• D)Effectiveness of oversight and governance.

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Definitions:

Identify

To recognize or establish as being a particular person or thing; to determine the identity of.

Ends

The term may refer to goals, objectives, or outcomes that an individual, group, or society seeks to achieve.

Outcome

The result or consequence of an action, process, or event, often measured to determine its success or failure.

High Rank Positions

Roles or titles within an organization or society that carry significant authority, responsibility, and status.