Mitigating control

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A mitigating control is type of control used in auditing to discover and prevent mistakes that may lead to uncorrected and/or unrecorded misstatements that would generally be related to control deficiencies.{{Cite web|url=https://www.irs.gov/irm/part1/irm_01-004-003.html|title = 1.4.3 Financial Assurance Control Testing | Internal Revenue Service}} For example, a Company's financial accounting may fail to record a financial transaction and the error may go unnoticed for several reporting periods. A mitigating control would be instrumental in finding and therefore, preventing such mistakes. If a key control fails and a mitigating control is in place, it may prevent the resulting potential financial statement error from becoming material.