REASONABLE ASSURANCE Definition

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REASONABLE ASSURANCE, in internal control, is the fact that internal controls, no matter how well designed and operated, cannot guarantee that an entity’s objectives will be met because of inherent limitations in all internal control systems.

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ASSIGNED VALUE is a value that serves as an agreed-upon reference for comparison; normally derived from or based upon experimental work of some national or international organization.

HUMAN CAPITAL is the unique capabilities and expertise of individuals that are productive in some economic context.

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