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.

Question

Quizplus · Accepted Answer

If a control deficiency is remediated by year-end, it may no longer be considered a material weakness, as the issue has been addressed and corrected.

Which of the Following Factors in Assessing Severity of Internal