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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: R.M.C. who wrote (15469)4/20/1997 11:57:00 AM
From: hugh thorne   of 28369
 
RMC, if i were to go in and start an audit on a new company within an industry that i had significant experience , i would begin by using standard audit techniques. Only after coming up with unexpected results would i then look for special procedures to perform on the engagement. Stated another way, i would not initially use procedures provided by management that were not "standard procedures". The purpose within the engagement is to be objective and this would be cast in doubt by such actions.

Is this analagous to a geological DD?

Again, nothing sinister by FCX, just explains why prelim's should never get out.
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