For an Auditor to Examine Management's Assertions About the Effectiveness

question 25

Essay

For an auditor to examine management's assertions about the effectiveness of internal control in an attestation engagement,three conditions are necessary.Briefly explain them.

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Definitions:

Resample

The process of selecting a new sample from an original dataset, possibly with replacement, to conduct statistical analysis or bootstrap estimates.

Distinct Resamples

Unique subsets or reselections of data from a set, used in bootstrap or other resampling methods to estimate variability.

Measurements

The act or process of determining the size, quantity, or degree of something using standard units.

Possible

That which can be done or achieved; within the limits of ability, capacity, or realization.