Volume of transactions affected is one of the critical criteria in assessing materiality of internal control deficiencies.

Question

Quizplus · Accepted Answer

The volume of transactions affected is one of the factors that can impact the materiality of internal control deficiencies. The larger the volume of transactions affected, the higher the potential impact on the organization's financial statements and the more significant the deficiency may be.

Volume of Transactions Affected Is One of the Critical Criteria