DISQUALIFICATION Definition

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DISQUALIFICATION, in the UK, is when a director is found guilty of "unfit" conduct. The director may then be disqualified from holding any management position for 2 to 15 years.

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ASSURANCE has been defined by the American Institute of Certified Public Accountants (AICPA) as "Independent Professional Services that improve information quality or its context". Such services are very broad and could include assessments of various industries, e.g., Internet security or quality of health facilities.

BALANCING is, in general, getting two things to correspond. In accounting, it is have two totals matching, e.g. balancing within the balance sheet.

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