TOTAL LIABILITIES is all the obligations of the company, i.e. includes Total Current Liabilities, Long Term Debt, and any other miscellaneous liabilities the entity may have listed separately.
COMFORT LETTERS see KEEP-WELL AGREEMENTS.
ENTERPRISE RISK MANAGEMENT (ERM) identifies risks and opportunities, assesses them for likelihood and magnitude, determines responses strategy, and monitors progress. ERM integrates strategic planning, operations management, and internal control. Monitoring ERM is part of internal control activities.
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