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Internal control weakness
A defect in the design or operation of internal controls. A material weakness is a reportable condition that does not reduce to a relatively low level the risk that material errors or fraud would not be detected in a timely manner by employees in the normal course of their duties.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Accounting
- Category: Auditing
- Company: AIS
- Product:
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