3-WAY MATCHING Definition

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3-WAY MATCHING is the comparison of relevant voucher, purchase order, and receiver.

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INVESTMENT RISK is the degree of uncertainty as to the realization of expected returns.

AUDIT RISK is a combination of the risk that material errors will occur in the accounting process and the risk the errors will not be discovered by audit tests. Audit risk includes uncertainties due to sampling (sampling risk) and to other factors (non-sampling risk).

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