Restatement Frequency Screen
Calculate restatement frequency and compare it with a caller-defined warning rate.
Description
Restatement frequency summarizes recorded events over a defined observation period.
Restatement frequency summarizes recorded events over a defined observation period.1
Calculate restatement frequency and compare it with a caller-defined warning rate.
When to use Restatement Frequency Screen
Use this tool to calculate restatement frequency and compare it with a caller-defined warning rate.
Prepare the documented facts, aligned totals or expected/observed evidence labels requested. Choose applicable requirements and thresholds separately before interpreting a planning screen.
How to use Restatement Frequency Screen and understand its results
- Prepare the documented facts, aligned totals or expected/observed evidence labels requested. Choose applicable requirements and thresholds separately before interpreting a planning screen.
- Enter restatementCount, observationYears, warningRatePerYear using the field table and calculation rules, then run the tool.
- Read restatementsPerYear, meetsWarningThreshold. The explanation below defines the units, signs, ordering and any flags or placeholder values.
- If the tool reports an input issue, correct the values and run it again. Apply the stated assumptions when interpreting a successfully returned result.
| Input field | Meaning | Value type; see rules below | Requirement |
|---|---|---|---|
| restatementCount | Restatement count | integer; minimum: 0 | Required |
| observationYears | Observation period (years) | number; minimum: 0 | Required |
| warningRatePerYear | Warning rate (restatements/year) | number; minimum: 0 | Required |
Enter nonnegative integer count, positive years and nonnegative warning rate; return rate/gate.
rate=count/years; warning=rate≥threshold Units, indexing, boundary conditions and exceptional cases are defined in the calculation rules above.
| Output field | Meaning | Value type |
|---|---|---|
| restatementsPerYear | Restatements per year (restatements/year) | number; minimum: 0 |
| meetsWarningThreshold | Meets warning threshold | boolean |
{
"input": {
"restatementCount": 3,
"observationYears": 5,
"warningRatePerYear": 0.5
},
"output": {
"restatementsPerYear": 0.6,
"meetsWarningThreshold": true
}
}Limitations and assumptions
No cause, severity or future misstatement probability is assessed.
Numeric inputs, where present, must be finite. Follow the calculation-specific rules for overflow, underflow and exceptional cases. Missing required fields, extra fields, wrong value types and violations of the calculation rules are input errors. A successfully returned false flag is an evaluated outcome; its meaning is explained above.
Alternative or Complementary methods
Use Inherent Risk Score: Combine inherent-risk factors into a weighted score. For a complementary task, use Deficiency Severity: Classify control-deficiency severity from likelihood and potential magnitude.
References
-
Restatement Frequency Screen — tool.io
Similar or alternative tools
- Inherent Risk Score
Combine inherent-risk factors into a weighted score.
- Deficiency Severity
Classify control-deficiency severity from likelihood and potential magnitude.