Control Risk Can Be Referred to as the Client's Ability

question 33

True/False

Control risk can be referred to as the client's ability to mitigate overall audit risk.

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Definitions:

Mode

The most commonly occurring value in a set of data.

Coefficient Of Variation

A standardized measure of dispersion of a probability distribution or frequency distribution, calculated as the ratio of the standard deviation to the mean.

Standard Deviation

A statistic that measures the dispersion of a dataset relative to its mean, indicating how spread out the data points are.

Grouped Data

Data that has been organized into categories, classes, or intervals, making it easier to analyze and interpret.