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Substantive procedures (or substantive tests) are those activities performed by the auditor to detect material misstatement at the assertion level. [1]Management implicitly assert that account balances and disclosures and underlying classes of transactions do not contain any material misstatements: in other words, that they are materially complete, valid and accurate.
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Management assertions or financial statement assertions are the implicit or explicit assertions that the preparer of financial statements is making to its users.These assertions are relevant to auditors performing a financial statement audit in two ways.
In statistical estimation theory, the coverage probability, or coverage for short, is the probability that a confidence interval or confidence region will include the true value (parameter) of interest. It can be defined as the proportion of instances where the interval surrounds the true value as assessed by long-run frequency.
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A great advantage of bootstrap is its simplicity. It is a straightforward way to derive estimates of standard errors and confidence intervals for complex estimators of the distribution, such as percentile points, proportions, Odds ratio, and correlation coefficients.
The term consistency in statistics usually refers to an estimator that is asymptotically consistent. Fisher consistency and asymptotic consistency are distinct concepts, although both aim to define a desirable property of an estimator. While many estimators are consistent in both senses, neither definition encompasses the other.
However, questions of homogeneity apply to all aspects of the statistical distributions, including the location parameter. Thus, a more detailed study would examine changes to the whole of the marginal distribution. An intermediate-level study might move from looking at the variability to studying changes in the skewness.