AUTHORIZATION SCHEDULE Definition

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AUTHORIZATION SCHEDULE is the guideline under which the subject activity is controlled and authorized. For example, expenditure spending may be controlled by amounts and the managerial level required authorizing or approving a preset trigger amount. As the amount increases over certain preset levels, higher managerial authority is required for approval.

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UNDER-BILLING is not recovering the full value of the agreed upon price or not billing for the correct amount of services or goods provided (usually unintentional).

SUPPLIERS provide goods or services to an audited entity. Sometimes called vendors.

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