Critical Criteria in Assessing Severity of Internal Control Deficiencies

question 59

Essay

Critical Criteria in Assessing Severity of 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?

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Definitions:

Attentiveness

The quality of paying close attention to something or someone, being alert and focused.

Summarization

The act of condensing information into a compact, comprehensive format, highlighting key points and main ideas.

Highlighting

Emphasizing or making certain aspects or details more noticeable or important.

Incongruent Responses

Responses or reactions that do not match the situation or the emotional state expected, often indicating underlying issues.