5.47 A material weakness is a situation in which5*5a. It is probable that an immaterial financial statement misstatement would not be prevented or detected and corrected on a timely basis.b. There is a remote likelihood that a material misstatement would not be prevented or detected and corrected on a timely basis.c. It is reasonably possible that a material misstatement would not be prevented or detected and corrected on a timely basis.d. It is reasonably possible that an immaterial misstatement would not be prevented or detected and corrected on a timely basis.