AICPA Definition

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AICPA is the American Institute [of] Certified Public Accountants.

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WINDFALL PROFIT/GAIN is profit that occurs suddenly as a result of an event not controlled by the company or person realizing the gain from the event. For example, a hurricane may bring extraordinary revenue to a roofing contractor as a result of the natural disaster.

SUCCESSOR AUDITOR is the auditor of a client for the current year when that client had another auditor in prior years. The auditor who no longer audits  that client is the predecessor auditor.

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