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You are currently involved in the audit of Catalion, a retail company. You discovered that a significant proportion of their sales are on a cash
You are currently involved in the audit of Catalion, a retail company. You discovered that a significant proportion of their sales are on a cash basis and there has been poor record keeping. There are no audit tests that can be done to satisfy yourself that the cash sales are accurate. Explain what effect this circumstance will have on your auditors report and what type of opinion you are likely to issue if no changes are made. (6 marks)
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