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CA Ravi Taori
transactions), we concluded that additional tests of details were required.
o Therefore, the senior will likely take part, along with the team, in the discussions
with management about the provision for obsolescence and examine related
documentation supporting the provision, rather than just reading the memo on fi
le.
o These procedures should be completed as the work is being performed rather than
as an after the fact review. The extent of the senior’s involvement requires
judgment, taking into consideration the complexity of the area and the experience
of the team.
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