ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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SAMPLING RISK Definition
SAMPLING RISK is the possibility that conclusions drawn from the sample may not represent correct conclusions for the entire population.
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ATTORNEY'S LETTER is signed by the client's lawyer and addressed to the auditor It is the auditor's primary means to corroborate information furnished by management about litigation, claims, and assessments.
ANNUAL REPORT is the requirement for all public companies to file an annual report with the Securities and Exchange Commission detailing the preceding years financial results and plans for the upcoming year. Its regulatory version is called "Form 10 K." The report contains financial information concerning a companys assets, liabilities, earnings, profits, and other year-end statistics. The annual report is also the most widely-read shareholder communication.