An OIG audit team identifies a material weakness in an agency's financial management system. Which statement BEST describes a material weakness?
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A
A control deficiency where the design or operation of a control does not allow management to prevent or detect misstatements on a timely basis
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B
Any error in financial reporting regardless of its significance
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C
A finding that has already resulted in a misstatement in the financial statements
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D
A deficiency that management has refused to remediate