When completing the audit of internal controls for an issuer, the severity of an internal control deficiency depends on:
A. Whether there is a reasonable possibility that the company’s controls will fail to prevent or detect a misstatement of an account balance or disclosure.
B. Whether the account has a history of errors.
C. The magnitude of the potential misstatement resulting from the deficiency or the deficiencies.
D. Both A and C are correct.
E. All of the above are correct.
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