IMPLEMENTATION OF INTERNAL CONTROL Definition

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IMPLEMENTATION OF INTERNAL CONTROL means the auditor determines that the relevant controls exist and that the entity is using them.

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BASLE COMMITTEE was set up by the Bank for International Settlements and is based in Basle. The Committee drew up international capital adequacy standards for banks and was once known as the Cooke Committee, after a former chairman.

COOKIE JAR RESERVES is an overly aggressive accrual of operating expenses and the creation of liability accounts done in an effort to reduce future year operating expenses.

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