What are the definitions of a control deficiency, significant deficiency, and material weakness as contained in AS5?

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What are the definitions of a control deficiency, significant deficiency, and material weakness as contained in AS5? Which, if any, of these deficiency categories must the external auditor include in the audit report?

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Auditing Cases An Interactive Learning Approach

ISBN: 978-0133852103

6th edition

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

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Question Posted: Mar 17, 2016 04:18 AM

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What are the definitions of a control deficiency, significant deficiency, and material weakness as contained in AS5?

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A deficiency in internal control over financial reporting exists when the design or operation of a c...View the full answer

Auditing Cases An Interactive Learning Approach

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