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the accounting guide issued by HM Treasury. When auditors reviewed the draft accounts in 2022, they found that valuations for specialist assets thought to be worth around £51 million had not been obtained. The assets included dredging equipment, canal basin widening works and lock gates. When an estimate of replacement costs for these assets was produced, using methodology that had been used since 2012, the auditors were still unhappy, and issued a disclaimer on whether the financial statements were accurate. Scottish Canals have since

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