COMMON LAW Definition

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COMMON LAW is an unwritten body of law based on general custom in England; it is used to some extent in the United States.

Learn new Accounting Terms

INDEPENDENT AUDIT is an examination of financial statements conducted by an outside CPA (one not employed by the firm being examined) according to generally accepted auditing standards (GAAS) for the purpose of expressing an opinion as to whether the statements are a fair presentation in accordance with generally accepted accounting principles (GAAP).

SLA see Service Level Agreement.

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