DUAL DATE Definition

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DUAL DATE is when a major event comes to the auditor's attention between the report date and issuance of the report; the financial statements may include the event as an adjustment or disclosure. The auditor dual dates the audit report (as of the end of workpaper review, except footnote XX, which is dated later).

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TOTAL LIABILITIES is all the obligations of the company, i.e. includes Total Current Liabilities, Long Term Debt, and any other miscellaneous liabilities the entity may have listed separately.

AVALIZOR is an institution or person who gives an aval.

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