Required: 1. According to PCAOB Auditing Standard (AS 2201) (https://pcaobus.org/Standards/Auditing/Pages/AS2201.aspx), what should auditors consider when evaluating the severity of a deficiency in a control that directly addresses a risk of material misstatement? (Your response to this question must be at least 350 words.) 2. PCAOB AS 2201 distinguishes the difference between a deficiency in design and a deficiency in operation. Does the Assistant Controller's failure to adequately review the Vendor Change Form represent a deficiency in the design or operating effectiveness of the control? (Your response to this question must be at least 350 words.) 3. Is the failure in the vendor request change form control indicative of a material weakness in internal control over financial reporting? (Your response to this question must be at least 350 words.) 4. SEC Regulation S-K requires that management provide a report on a registrant's ICFR in the company's Form 10-K. Assuming the company and the auditor concluded that this internal control failure indicates a material weakness in internal control, what information would the company be expected to disclose? (Your response to this question must be at least 350 words.) 5. In light of the identified deficiency, auditors should consider what impact, if any, the deficiency may have on other controls. What implications does the failure to adequately review the Vendor Change Form have on other controls? (Your response to this question must be at least 350 words.)