PROFESSIONAL SUBSCRIBER Definition

Bookmark and Share

PROFESSIONAL SUBSCRIBER means all other persons who do not meet the definition of Non-Professional Subscriber. See NON-PROFESSIONAL SUBSCRIBER.

Learn new Accounting Terms

NONSAMPLING RISK is audit risk not due to sampling. An auditor may apply a procedure to all transactions or balances and fail to detect a material misstatement. Nonsampling risk includes the possibility of selecting audit procedures that are not appropriate to achieve a specific objective. For example, confirming recorded receivables cannot reveal unrecorded receivables. Nonsampling risk can be reduced to a negligible level through adequate planning and supervision.

LIABILITY, in accounting, is a loan, expense, or any other form of claim on the assets of an entity that must be paid or otherwise honored by that entity.

Suggest a Term

Enter Search Term

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