For each of the following independent cases, state the highest level of deficiency that you believe the circumstances representa control deficiency, a significant deficiency, or a mate- rial weakness. Explain your decision in each case. During its assessment of internal control over financial reporting, management identified the following deficiencies. Based on the context in which the deficiencies occur, management and the auditors agree that these deficiencies individually represent significant deficiencies: Inadequate segregation of duties over certain information system access controls. Several instances of transactions that were not properly recorded in the subsidiary ledgers; the transactions involved were not material, either individually or in the aggregate. No timely reconciliation of the account balances affected by the improperly recorded transactions.