Chart of Accounts
The structured list of every ledger account a company uses to classify its financial transactions, forming the backbone that the trial balance and financial statements are built from.
Related terms
- CARO Clause 3(xxi) — Qualifications in Subsidiary Reports
Requires the auditor to report on whether there are any qualifications or adverse remarks in the CARO reports of any subsidiary, associate or joint venture included in the consolidated financial statements.
- Cash Credit
A short-term working capital facility against the security of stock and receivables, typically repayable on demand, distinct from a term loan.
- Common Control Entities
Entities ultimately controlled by the same person or group, even where no direct shareholding link exists between them — a frequent source of undisclosed related-party relationships.
- Compensating Control
A control that reduces the risk of an existing control weakness to an acceptable level, without eliminating the weakness itself.
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231 terms in total, or go deeper with working procedures and worked examples in the resource library.