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How do internal controls over financial reporting

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Reference no: EM133146916

1. 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?

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

3. 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?

Reference no: EM133146916

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