AUDIT PLAN / PLANNING Definition

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AUDIT PLAN / PLANNING is developing an overall strategy for the expected conduct and scope of the audit. The nature, extent, and timing of planning varies with the size and complexity of the entity, experience with the entity, and knowledge of the entitys business.

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POLITICAL COSTS HYPOTHESIS predicts that firms with low agency and political costs and effective shareholders monitoring will distribute cash dividend and those with moderate agency and political costs may use stock dividends in lieu of cash dividends to separate themselves from firms having high agency and political costs. This indicates that cash dividend firms will face better long-term stock market valuation of their shares than stock dividend firms.

PASS-THROUGH is a mortgage or asset-backed security for which the payments on the underlying debt are passed from the debtor through the servicing agent (who receives a fee) to the security holder.

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