disclosure
Information given in the narrative notes to *financial statements. Disclosure of items is either (i) required by *Generally Accepted Accounting Principles or (ii) offered as a means of amplifying and explaining financial statement items. The legal writer L. C. B. Gower stated in 1969 that "as the fundamental principle of investor protection, disclosure only works if the information disclosed can be safely taken as accurate. Unless checked by some independent authority this cannot be relied on; so as far as the accounts are concerned the auditors are this independent (and usually reliable) authority" (quoted in Chambers, R. J., 1995, 73).

Auditor's dictionary. 2014.

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  • disclosure — [disklō′zhər] n. 1. a disclosing or being disclosed 2. a thing disclosed; revelation …   English World dictionary

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  • disclosure — n. 1) to make a disclosure 2) a financial; public; sensational, startling disclosure 3) a disclosure that + clause (the disclosure that he had been in prison ruined his chances for public office) * * * [dɪs kləʊʒə] public sensational startling… …   Combinatory dictionary

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