ATTORNEY'S LETTER Definition

Bookmark and Share

ATTORNEY'S LETTER is signed by the client's lawyer and addressed to the auditor It is the auditor's primary means to corroborate information furnished by management about litigation, claims, and assessments.

Learn new Accounting Terms

REPURCHASE AGREEMENT (REPO) is a contract in which an investor or securities dealer sells a United States security to a bank or other corporation and agrees to repurchase the security later at a specified time and price, including interest. The investment period ranges from one day to several months, and the purchaser earns interest competitive with money market rates.

CONSUMPTION SMOOTHING is aimed at protecting consumption patterns from the impact of shocks, and can take effect either before or after their occurrence. Post-shock responses include modifying consumption, raising income by mobilizing labor or selling assets, drawing on informal or formal sources of savings, or activating claims on informal insurance mechanisms.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.