Take the following as truth: 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.
Then the following statement: "The AICPA's requirements here have been encouraged by the public who generally prefers transparency with financial data in institutions." is true, false, or inconclusive?