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.

Learn new Accounting Terms

ASB see ACCOUNTING STANDARDS BOARD.

LONG-TERM LIABILITIES are liabilities of a business that are due in more than one year. An example of a long-term liability would be a mortgage payable.

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