A material weakness in internal control is a significant deficiency, or combination of significant deficiencies, that results

Question

Quizplus · Accepted Answer

A material weakness in internal control is defined as a deficiency, or combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis. Therefore, choice B is the best answer as it correctly describes a material weakness in internal control.

A Material Weakness in Internal Control Is a Significant Deficiency