COLLUSION Definition

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COLLUSION is a secret agreement between two or more parties to commit fraud or deceit.

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EMERGING ISSUES TASK FORCE (EITF) was formed in 1984 in response to the recommendations of the FASBs task force on timely financial reporting guidance and an FASB Invitation to Comment on those recommendations. The mission of the EITF is to assist the FASB in improving financial reporting through the timely identification, discussion, and resolution of financial accounting issues within the framework of existing authoritative literature.

INVESTMENT RISK is the degree of uncertainty as to the realization of expected returns.

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