REASONABLE ASSURANCE Definition

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REASONABLE ASSURANCE, in internal control, is the fact that internal controls, no matter how well designed and operated, cannot guarantee that an entity’s objectives will be met because of inherent limitations in all internal control systems.

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DEMAND DEPOSIT is a bank deposit from which withdrawals may be made without notice.

COUNTRY RISK is the risk a depositor takes when placing funds on deposit outside the United States. The host country where the funds are domiciled may decree that no fund may be expatriated, or sent out of that country, until the decree is lifted.

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