OBJECTIVITY Definition

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OBJECTIVITY, of an internal auditor, is dependent upon  the organizational status of the internal audit function, whether the internal auditor has direct access and reports regularly to the board, the audit committee, or owner-manager, and who oversees internal auditor employment decisions.

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EARNED SURPLUS see RETAINED EARNINGS.

ACTIVE is a a security eligible for the OTC Bulletin Board (OTCBB) that meets the frequency of quotation requirement or the so-called "piggyback" exception. Once the frequency of quotation or piggyback exception has been satisfied, authorized participants may register on-line in a security. As long as the security remains active, any participant may quote the security without a Form 211 submission.

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