NEGATIVE ASSURANCE Definition

Bookmark and Share

NEGATIVE ASSURANCE, in accounting, is a statement of what the CPA does not know as opposed to what the CPA believes (positive assurance). A statement that the CPA was "not aware of material modifications that should be made to financial statements for them to conform with U.S. generally accepted accounting principles" is negative assurance used in review reports.

Learn new Accounting Terms

CASH RECEIPTS JOURNAL is the journal for recording all cash receipts.

FORWARD PREMIUM is when a currency trade forward price is higher than its spot price.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.