ATTESTATION RISK Definition

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ATTESTATION RISK is the risk the CPA may unknowingly fail to modify the report
on management’s assertion. It is composed of inherent risk, control risk, and detection risk.

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PROCESSING CONTROL, in accounting, is an internal control included in computer software designed to assure that all transactions are handled as authorized and none omitted or added.

NET ASSETS is the difference between total assets and current liabilities including non-capitalized long-term liabilities.

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