A client has physical controls over inventories, including a locked warehouse with access restricted to authorised personnel.

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A client has physical controls over inventories, including a locked warehouse with access restricted to authorised personnel. Testing of these physical controls over inventories shows that they are very effective. Can the auditor conclude that there are likely to be no errors in the valuation of inventories? Explain.

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Auditing A Practical Approach

ISBN: 9780730364573

3rd Edition

Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton

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