The Auditor's Conclusions Are Stated as Opinion Rather Than a Statement

question 4

Multiple Choice

The auditor's conclusions are stated as opinion rather than a statement of fact:

• A) to avoid the possibility of legal action against the auditor.
• B) to allow for a margin of error.
• C) because conclusions are based on professional judgement.
• D) all of the above

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Definitions:

Optimal Maintenance Policy

A strategy for scheduling maintenance activities in the most efficient, cost-effective manner while minimizing downtime and extending equipment life.

Historical Data

Recorded information from the past that is used for research, analysis, and decision making in various contexts.

Breakdown Probabilities

The likelihood of a system or component failing within a certain period.

Autonomous Maintenance

Operators partner with maintenance personnel to observe, check, adjust, clean, and notify.