AGENCIES is securities issued by various agencies of the U.S. Government, such as the Federal National Mortgage Association.
EXAMINATION, in an audit, is evaluating the preparation of prospective statements, support underlying assumptions, and presentation. The accountant reports whether, in his
or her opinion, the statements conform to AICPA guidelines and assumptions provide a reasonable basis for the responsible party's forecast. The accountant should be independent, proficient, plan the engagement, supervise assistants, and obtain sufficient evidence to provide a reasonable basis for the report.
SHAREHOLDER is an individual or company, (including corporations) that legally owns one or more shares of a company.
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