# Significant deficiency

> Significant deficiency — A control deficiency less severe than a material weakness yet important enough to merit the attention of those overseeing financial reporting.

Source: https://lopifi.com/glossary/significant-deficiency
Part of: Lopifi — US GAAP books on autopilot, reviewed by a CPA (https://lopifi.com)

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**What is 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.

## Words this system refuses for it

- material weakness

- **Category:** Controls
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Related:** material-weakness