Question: Evaluate the following statement made by a third-year auditor: In comparison wit other accounts, such as accounts receivable or property, plant, and equipment, it is

Evaluate the following statement made by a third-year auditor: "In comparison wit other accounts, such as accounts receivable or property, plant, and equipment, it is my assessment that cash contains less inherent risk. There are no significant valuation problems with cash." Do you agree or disagree with the auditor's assessment of inherent risk? Explain.

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