SUCCESSOR AUDITOR Definition

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SUCCESSOR AUDITOR is the auditor of a client for the current year when that client had another auditor in prior years. The auditor who no longer audits  that client is the predecessor auditor.

Learn new Accounting Terms

COST CEILING, in project management, is the sum of the Project Cost Target plus the projects Contingencies cost allowances.

CONTRACTUAL ALLOWANCE, in healthcare, is the difference between what hospitals bill and what they receive in payment from third party payers, most commonly government programs; also known as contractual adjustment.

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