Which of the following is the most severe?
A)Material weaknesses in internal control.
B)Significant deficiencies in internal control.
C)Operational deficiencies in internal control.
D)Each is equally severe because it could result in inaccuracies in financial reporting.

Question

Quizplus · Accepted Answer

Material weaknesses in internal control are the most severe as they are the most significant internal control deficiencies that have been identified and could result in a material misstatement in the financial statements. Significant deficiencies and operational deficiencies are less severe than material weaknesses but still require attention and corrective action.

Which of the Following Is the Most Severe