SLIPPAGE Definition

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SLIPPAGE is the difference between estimated transactions costs and actual transactions costs. The difference usually represents revisions to price difference or spread and commission costs.

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CONTROL POLICIES AND PROCEDURES are the policies and procedures that help ensure management directives are carried out. Those pertinent to an audit include performance reviews, information processing, physical controls and segregation of duties.

TRADE DRAFT is a draft addressed to a commercial enterprise.

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