CONTROL POLICIES AND PROCEDURES are the policies and procedures that help ensure management directives are carried out. Those pertinent to an audit include performance reviews, information processing, physical controls and segregation of duties.
MARKET PRICE (MARKET VALUE), for securities sold on an exchange, is the last reported price at which the securities were sold. For securities sold over-the-counter (OTC), the current price of the securities in the market.
OWNED RECEIVABLES is receivables carried on the balance sheet of the institution. See MANAGED RECEIVABLES.
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