Significant deficiency
In accounting, significant deficiency means a control deficiency less severe than a material weakness yet important enough to merit the attention of those overseeing financial reporting.
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- Lexicon
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- Lexicon
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Authority
This definition follows PCAOB AS 2201.
Every citation in this system, with the text we read and the date we checked it, is in US GAAP and where these rules come from.
What it is not called
Each of these is a real word for a different thing. Using it here is what makes a product read as though it was built by someone who has not done the work.
- material weakness
Nearby in the catalog
No component names this concept outright. These are the ones in its part of the system, which is a weaker claim — but a component nothing links to is a component nobody finds.
Terms this one depends on
Also in Controls
Defined in Lexicon. This page is generated from that document, so the two cannot disagree.