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.