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When completing the audit of internal controls for a public company, the severity of an...

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Accounting

When completing the audit of internal controls for a public company, the severity of an internal control deficiency depends on:
Both whether there is a reasonable possibility that the company's controls will fail to prevent and detect a misstatement in the account and t
misstatement resulting from the deficiency.
Whether the account has a history of errors.
Whether there is a reasonable possibility that the company's controls will fail to prevent or detect a misstatement in the account.
The severity depends on all of the factors identified.
Themagnitude of the potential misstatement resulting from the deficiency.
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