It's your language, use it correctly.
Re: #8"Effect" can be a verb as well, as in the following usage: "to effect change"
I don't think the usage of the word "their" is correct in this sentence. I base this on the fact that estimates and assumptions are not people. Am I incorrect?Estimates and assumptions about future events and their effectscannot be perceived with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the operating environment changes.
It's not illegal to use "their" with inanimate objects, although a lot of people don't like its use. You could rearrange the sentence to eliminate their, but that would create a very awkward sentence.
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