CARTE BLANCHE Definition

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CARTE BLANCHE is unrestricted power to act at ones own discretion, i.e. unconditional authority.

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LOAN CAPITAL is part of a company's capital made up of loans from outside the company.

EXCEPT FOR is a qualified opinion. An auditor can qualify the audit opinion for both departures from U.S. GAAP in the financial statements and restrictions on the scope of the audit. The opinion paragraph of the qualified report is worded "In our opinion, except for..."

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