How are significant deficiencies and material weaknesses defined?

How are significant deficiencies and material weaknesses defined?

• A. Significant deficiencies are significant control gaps; material weaknesses are deficiencies that would result in a material misstatement.
• B. Significant deficiencies are minor issues; material weaknesses are major issues.
• C. Both refer to lack of documentation only.
• D. Only management can determine which is present.

Answer: (A)