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Auditors Must Communicate in Writing About Internal Control Weaknesses to the Audit

question 68

True/False

Auditors must communicate in writing about internal control weaknesses to the audit committee or those charged with governance.


Definitions:

Distribution

A mathematical description of observed or theoretical frequencies of occurrence of different possible outcomes in a dataset.

Sampling Distribution

The probability distribution of a given random-sample-based statistic, used to make inferences about a population.

Mean

The arithmetic average of a set of numbers, calculated by adding all the values together and dividing by the number of values.

Number of Successes

This term refers to the count of times an outcome of interest occurs in a statistical experiment.

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