8The AICPA's Generally Accepted Auditing Standards defines a reportable condition as a significant deficiency in the design or operation of internal control that could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with management's assertions in the financial statements.
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If there's an issue that can compromise an entity's ability to summarize financial data it might be a condition that should be reported.
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Financial data doesn't need to align with the assertions made by management in financial statements.