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You are recently appointed as the auditor of PLK Pty Ltd, a paint manufacturing company. Last year the board members decided that they need to expand their business and took the decision to establish two more factories in Albany and Mandurah. They have already consulted with their bank regarding the loan but since they have struggled to meet some debt covenants of the past loans, the bank is quite reluctant to approve any new loans. However, the directors are quite confident that they will find an alternative financial institution/bank and if everything goes according to plan, the business will be right on track very soon.

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