Reliability

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In research, probability that a measurement is free from random error and yields consistent results; that is, the same results can be expected at another time. For example, a reliable promotion test means that a similar promotion will yield similar results. See also confidence level; validity.

1. in auditing, confidence that the financial records have been properly prepared and that accounting procedures and internal controls are correctly functioning.


2. in financial accounting theory, term describing information that is reasonably free from error and bias and accurately presents the facts.
Verifiability exists when a reconstruction of financial data, following acceptable accounting practices, results in the same actual results previously attained; further, two accountants working independently will come up with similar results.
Representational faithfulness exists when there is agreement between a portrayal (description) and the item it is supposed to represent (validity).
Information is neutral when it does not favor one company over another.
See also verifiable.


3. probability that a product or process will perform satisfactorily over a period of time under specified operating conditions.

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n. the ability of an item to perform a required function under stated conditions for a specified period of time.

See the Introduction, Abbreviations and Pronunciation for further details.

reproducibility

A characteristic of a measurement or experimental procedure that produces consistent results on two or more separate occasions. A typical way of testing reliability is to compare the results of two independent recorders. This is termed interrater reliability. High correlations between results (for example 0.80 or better) indicate reliability. Several statistics, such as standard deviation of repeated tests, can give a measure of reliability. Reliability of tests on human activities is rarely perfect because of biological variance due to factors such as mood, time of day, previous experience affecting the activities. Reliability can be maximized, however, by standardizing as many of these factors as possible (e.g. test at the same time of day). See also objectivity, validity, sensitivity.

n

1. in research, the reproducibility of an experimental result; the extent to which an experiment, test, or measuring procedure yields the same result during independent, repeated trials. n 2. the ability of two or more observers to examine the same data and arrive at a similar judgment within predefined bounds concerning the quality of care.

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