AUDIT FAILURE Definition

AUDIT FAILURE is an instance where the auditor said that the financial statements were fairly stated when in fact, they were not.

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GLOBAL BOND is a bond issued and traded outside the country whose currency it is denominated in, and outside the regulations of a single country; usually a bond issued by a non-European company for sale in Europe; also called Eurobond.

P&A, dependent upon usage, can be: Parts & Accessories, Pay & Allowances, Personnel & Administration, or Price & Availability.

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