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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CONTINGENT ASSET is a possible asset from past events whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the enterprise.

PERSONNEL is the department that maintains records of each individual's employment.

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