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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PARENT COMPANY is a company of which others are subsidiaries.

FRIENDLY TAKEOVER consists of a straight buyout of a company, and happens all the time. The shareholders receive cash or (more commonly) an agreed-upon number of shares of the acquiring companys stock.

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