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What is the Relationship between Acceptable risks of assessing control risk too low and sample size?
Acceptable Risk of Assessing Control Risk too Low (ARACR) is inversely related to Sample Size. Consider this: If we do not want to allow any room for error in judgment (meaning we lower the ARACR), we must increase the sample size to ensure our results have a smaller margin of error. (Source: "Auditing and Assurance," 14th ed., Arens Elder Beasley, 491)
How do a control sample and an experimental sample differ from each other?
A control sample is the experiment under regular conditions. An experimental sample is the experiment in which different variables are changed.
What are two of the three actions for analyzing risk control measures?
Determine control effects and prioritize risk controls.
What are two ways that researcher can avoid a biased sample?
experimental and control groups
The gao standards fall within which of the following five areas?
Control environment, risk assessment, control activities, information/communication, & monitoring
What is the Relationship between Acceptable risks of assessing control risk too low and sample size?
Acceptable Risk of Assessing Control Risk too Low (ARACR) is inversely related to Sample Size. Consider this: If we do not want to allow any room for error in judgment (meaning we lower the ARACR), we must increase the sample size to ensure our results have a smaller margin of error. (Source: "Auditing and Assurance," 14th ed., Arens Elder Beasley, 491)
What does control as an experiment means?
A control sample or control group is used to compare with the experimental group or sample. The control sample ideally, should be exactly the same as the experimental sample except that you don't give your experimental treatment to the control sample. Afterwards you compare the 2 samples to see if your experimental treatment had any kind of effect. The control is like a reference point.
How do a control sample and an experimental sample differ from each other?
A control sample is the experiment under regular conditions. An experimental sample is the experiment in which different variables are changed.
What does a risk control procedure aim to do?
A risk control procedure aims to reduce the risk levels. This is a mechanism that is implemented with the intention of minimizing the possible risk.
What are the control designed to do?
Controls are designed to reduce or eliminate risk.
Why did it take "risk takers" to bring jobs to southwest Detroit What did these risk takers do?
Federico has two samples of pure water—sample X and sample Y. Sample X has a volume of 1 L, and sample Y has a volume of 10 L. How do the boiling points of these two samples compare?
What does the term control sample mean?
A 'control' is a sample with a known outcome. By testing the control at the same time, with the same operator, under the same conditions as the 'test sample' one builds validity into the test result, assuming of course, that the result gives the expected outcome.
What are the three components of Audit risk?
Inherent Risk, Control Risk and Detection Risk
What is a sample that is treated exactly like all other experimental groups that the variable is not applied to it is a?
Again another of my homework questions and i think its control
What are the elements of internal control?
An organization establishes a system of internal control to help it manage many of the risks it faces, such risks are classified as follows:- * Inherent Risk * Control Risk * Detection Risk Establishing an internal control is the responsibility of the management, the elements (components) of internal control framework are the following:- * Control environment * Risk Assessment * Control Activities * Information & Communication * Monitoring
What are elements of internal control?
An organization establishes a system of internal control to help it manage many of the risks it faces, such risks are classified as follows:- * Inherent Risk * Control Risk * Detection Risk Establishing an internal control is the responsibility of the management, the elements (components) of internal control framework are the following:- * Control environment * Risk Assessment * Control Activities * Information & Communication * Monitoring
Why do you need to perform each of the tests on a known sample as well as on your unknown sample?
it is need so as a control.
