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When a Significant Proportion of Inventories Is Stored in a Public

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When a significant proportion of inventories is stored in a public warehouse, the auditor may not be satisfied with its existence by merely obtaining a confirmation from the warehouseman.

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Definitions:

Civil Dispute

A legal conflict between individuals or entities that typically involves private rights and compensations rather than criminal charges.

Speeding

The act of exceeding the legally established speed limit while driving.

Criminal Court

A court that has jurisdiction over cases involving criminal offenses and dispenses justice according to criminal law.

Fraud

A wrongful or criminal deception intended to result in financial or personal gain.

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