LO $5-5$

$5\mathrm{.}47$ A material weakness is a situation in which

a$.$ 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.