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You are on the audit engagement team for Central Energy & Gas (CEG). Courtney is the CEG employee that has responsibility for reconciling bank statements
You are on the audit engagement team for Central Energy & Gas (CEG). Courtney is the CEG employee that has responsibility for reconciling bank statements with CEGs cash accounts. While performing a walkthrough, you find out that Courtney has never been taught to reconcile which means the statements have not been appropriately reconciled for two years. How would you judge the significance of this control deficiency? How would you classify this deficiency?
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