DISCLAIMER Definition

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DISCLAIMER is a statement that the auditor is unable to express an opinion as to the presentation of financial statements in conformity with U.S. GAAP.

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ERISA, in the U.S., refers to the Employee Retirement Income Security Act of 1974. It is a major U.S. law which guarantees certain categories of employees a pension after some period at their employer; there had been more ambiguity before about what rules an employer could put on which employees could get a pension.

SUSTAINING CAPITAL REINVESTMENT is the periodic capital outlay required to maintain operations at existing levels, net of the tax shield available from such outlays.

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