CORE PROCESS Definition

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CORE PROCESS is a process with a set of related and interdependent activities that transform an input to a system to an output with added value to a customer. It is the transformation of people, money, materials or information that is the value-added work of the organization. The CORE PROCESSES are those processes by which the organization creates its most value-added and essential transformations for the customers.

Learn new Accounting Terms

REPORTABLE EVENT see REPORTABLE CONDITION.

SCOPE, in accounting, is the type of engagement. The scope of an engagement might be a review, an audit, or a compilation. A scope limitation is a restriction on the evidence the auditor can gather.

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