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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While effective physical controls over inventories such as a locked warehouse with restricted access are important and can significantly reduce the ri...View the full answer
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Hemstone Ouma
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Related Book For 
Auditing A Practical Approach
ISBN: 9780730364573
3rd Edition
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton
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