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What are the key considerations when evaluating the severity of a deficiency in a control that directly addresses a risk of material misstatement? 2 .
What are the key considerations when evaluating the severity of a deficiency in a
control that directly addresses a risk of material misstatement?
Does the Assistant Controllers failure to adequately review the Vendor Change
Form represent a deficiency in the design or in the operating effectiveness of the
control or both?
Is the failure in the vendor request change form control indicative of a material
weakness in internal control over financial reporting?
Would the deficiency warrant disclosure in the EGFs Form K Item A If so
what information would the Company be expected to disclose?
What implications does the deficiency have on other direct or indirect controls?
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