ATTORNEY'S LETTER Definition

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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.

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VENDOR STATEMENT is a statement by the seller to the buyer detailing material particulars regarding the property in question (suitability for intended use).

SUSTAINABLE COMPETITIVE ADVANTAGE (SCA) is the realization of long-term benefits of implementing unique core strategies that create value. The sustainable advantage over competitors is due to their inability to duplicate the benefits of the strategies implemented.

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