Regulatory and Professional Bodies

question 32

Essay

Regulatory and professional bodies.
Write the full name of the following regulatory and professional acronyms and describe the function of each entity:
PCAOB.AICPA.SEC.
IIA.FASB

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Definitions:

Sample Mean

The average of all data points in a sample, used as an estimate of the population mean.

Unbiased Estimators

Statistical estimators whose expected value is equal to the parameter being estimated.

Variance

A measure of the dispersion indicating how much the values in a data set differ from the mean.

Relatively Efficient

Describes a statistical estimator or procedure that has lower variance or better performance compared to others under certain conditions.