Identify the different types or classes of internal controls


Discussion Post

• Identify the different types or classes of internal controls. How do internal controls over financial reporting (ICFR) differ from the other types or classes of internal controls?

• Do you agree with KPMG's position that Wells Fargo's improper sales practices did not involve the company's ICFR? Defend your answer.

• How does the AICPA's Auditing Standards Board define a material weakness in internal control? How does the PCAOB define a material weakness in iCFR? What factors should auditors consider in deciding whether an ICFR deficiency qualifies as a material weakness in ICFR?

The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.

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Financial Management: Identify the different types or classes of internal controls
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