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Dear Sir,
Hope you are well. What does the ”Principal” mean in this context and how does it defer from just audit procedures
Thanks in advance
“Principal” in any context means “Main”
The question is looking for greater depth and initiative than simply “confirm that the petty cash is reconciled by performing a surprise cash count”
Do you need me to look at the question and give an example of a “principal audit procedure” – but surely the examiner’s solution will guide you there
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