REPORTABLE CONDITION Definition

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REPORTABLE CONDITION is a matter coming to the auditor's attention relating to SIGNIFICANT DEFICIENCIES in the design or operation of the entitys internal control that could ADVERSLY AFFECT an entity's ability to fulfill future obligations with customers and/or the satisfaction of liabilities.

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LOAN CAPITAL is part of a company's capital made up of loans from outside the company.

CMO see COLLATERALIZED MORTGAGE OBLIGATION.

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