Managers must use professional judgment to determine whether identified control deficiencies rise to the level of a significant deficiency or material weakness.

Question

Quizplus · Accepted Answer

Managers are responsible for evaluating the significance of control deficiencies and determining if they are significant deficiencies or material weaknesses. This requires professional judgment and an understanding of the entity's goals, risks, and controls.

Managers Must Use Professional Judgment to Determine Whether Identified Control