AUDIT SCOPE Definition

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AUDIT SCOPE refers to the activities covered by an internal audit. Audit scope includes, where appropriate: audit objectives; nature and extent of auditing procedures performed; Time period audited; and related activities not audited in order to delineate the boundaries of the audit.

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FORWARD, in securities, is an agreement between two parties to exchange specific items, for example, two currencies, at a specified future date and a specified price.

IMF is International Monetary Fund.

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