The Definition of a "Deviation" for a Test of a Control

question 60

True/False

The definition of a "deviation" for a test of a control should include only those deviations that result in misstatements in the financial statements.

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Definitions:

Standards Of Performance

Benchmarks or metrics used to measure and evaluate the effectiveness, quality, or efficiency of an individual's or organization's output.

Measuring Actual Performance

Measuring actual performance involves the process of gathering, analyzing, and interpreting data regarding an individual's or organization's achievements and progress towards goals.

Key Results

Key results are specific, measurable outcomes used to track the achievement of an objective.

Management By Exception

The practice of giving attention to substantial differences between actual and desired performance.