ASSURANCE Definition

ASSURANCE has been defined by the American Institute of Certified Public Accountants (AICPA) as "Independent Professional Services that improve information quality or its context". Such services are very broad and could include assessments of various industries, e.g., Internet security or quality of health facilities.

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NOMINAL DOLLARS are dollars that have not been adjusted for inflation.

PROBABLE an event happening is probable if it is uncertain but likely to happen.

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