exception

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Exception

A proxy which does not authorize the proxy committee to act on its behalf concerning any other business, adjournments or substitutions.

Exception

1. In a publicly-traded company, a proxy that does not authorize the proxy committee to act on his/her behalf. Such a proxy makes his/her own arrangements.

2. In an audit of a financial statement, a note stating that the auditor agrees with a majority of the statement, but not with certain parts. That is, exceptions are written when the auditor believes that the majority of the financial statement is accurate, but that there are a few inaccuracies scattered throughout. Exceptions are noted in the auditor's report.

exception

An auditor's qualification of a financial report that indicates disagreement with an item in the report or limitations to the extent of the audit.

exception

(1) Estates or described lands specifically spelled out in a deed as not passing to the grantee. (2) Liens and claims specifically excluded from the coverage of a title insurance policy. (3) Liens and claims specifically excluded from a contract of sale.

References in periodicals archive ?
Author's reply: I have reviewed the issue and agree that the article erroneously described a second exception to the 50% tax limitation on deductible M&E expenses under IRC section 274(n)(2).
The Court responded to this argument by stating that "an automatic firearm exception to our established reliability analysis would rove too far.
To be granted an exception, the provider must demonstrate to HCFA that the costs incurred above the routine cost limitation were necessary atypical costs incurred due to the atypical nature of the SNF's patient population.
The most common exceptions in these state laws are for services provided to patients in physicians' offices or group practice offices.
In the past, a user had to look at various systems to get the information he or she needed, but now the SQN SENTRY: Exception screen is a consolidated, integrated platform screen which provides all the information necessary to make the decision to pay," said Choi.
419 and 419A plans): An employer makes contributions to welfare benefit plans allegedly falling within the multiemployer exception to the limited funding standards of Secs.
Essentially, the exceptions introduce standards of assurance that are too vague to provide guidance to taxpayers and their advisers.
The good news is that MS is listed as an automatic exception.
Instead, Roberts wrote that the federal government's "argument echoes the classic rejoinder of bureaucrats throughout history: If I make an exception for you, I'll have to make one for everybody, so no exceptions.
Under the proposed amendments, all payments received or receivable because of a restrictive covenant would, with certain limited exceptions, be taxable on income account to the recipient.
The Supreme Court recognizes the need for law enforcement to search in the face of an emergency (4) or incident to arrest, (5) following the lawful seizure of property to inventory its contents, (6) based on the voluntary consent of a party who has authority over the property, and pursuant to the motor vehicle exception.
All of this enables exceptions and issues to be proactively addressed before they flow downstream and cause revenue leakage, high DSOs and customer dissatisfaction--and become costly to resolve.