Unresolved MWs 2065

  • What are the ramifications of a material weakness not being resolved by the next year’s mgmnt assessment? Other than tone at the top issue? SEC involvement?

  • Hi DSL.
    There is a whole audit standard devoted to such cases (56 pages).
    Have a look at
    and look for AS 4 under their standards section :Reporting on whether a previously reported material weakness continues to exist.
    THis should provide you with everything you need to know

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