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Question 3. Total 05 Marks (a) Briefly describe the meaning of Professional Judgment and explain its importance in the context of an audit (03 marks).

Question 3. Total 05 Marks (a) Briefly describe the meaning of Professional Judgment and explain its importance in the context of an audit (03 marks). (b) Give 2 examples where an auditor has to exercise his professional judgment in carrying out an audit of a private limited company (02 marks).

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