Question

A ________ is a material deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material mis-statement in the annual or interim financial statements will not be prevented or detected.
a. material control failure.
b. material control deficiency.
c. critical control deficiency.
d. critical control failure.

Answer 1

Answer:

a.material control failure

Explanation:

A material control failure is a material deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material mis-statement in the annual or interim financial statements will not be prevented or detected.