A condition in which internal controls do not reduce to a relatively low level the risk that material errors or fraud may occur and not be detected in a timely period by employees in the normal course of their duties.
Found on
http://www.ais-cpa.com/glosa.html
A significant deficiency or combination of significant deficiencies that results in more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected.
Found on
https://www.encyclo.co.uk/local/21071
No exact match found.
