3. Write-up: Describe the relation between material internal control weaknesses and misstatements. Why is there such a relation between material internal control weaknesses and misstatements? Tip 3: the relation could be positively related, negatively related, or not related. Tip 4: definition of internal control: internal control is a process, effected by an entitys board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following three categories: reliability of financial reporting, effectiveness and efficiency of operations, and compliance with applicable laws and regulations. (in this auditing class and in this data analysis project, we only include the internal control weaknesses related to the reliability of financial reporting).