Limited audit

An audit that is limited to a particular time span (usually less than a year) or accounts or operation is known as limited audit. Scope of limited audit is less wide compared to full audit. Legal compliance is not mandatory for a limited audit. Examples of limited audit are: Interim audit, Tax audit, Compliance audit … Read more

LIBOR

LIBOR stands for London InterBank Offered Rate (aka ICE LIBOR) is the benchmark interest rate for interbank short-term unsecured loans. LIBOR is calculated based on submission of interest rates by panel banks (ICE LIBOR Currency Panels), that they expect they would be charged by others for borrowing money. So, LIBOR is an average rate at … Read more

Line of credit

[subtitleh2]What is Line of credit (LOC)?[/subtitleh2] A line of credit, also known as LOC is generally an unsecured loan. A LOC gives a borrower the right to borrow and draw funds at any time to meet immediate needs. A significant condition of a line of credit is it’s maximum limit. Borrower can take money out … Read more