The work has not been graded but I like the output that was submitted to me. Is it possible for the same prof to do the next assignment I will be submitting? If possible, I will greatly appreciate it.
Determine whether each of the following situations would result in a modified unqualified opinion (i.e., a change to the auditorÃ¢â‚¬â„¢s standard three paragraph report). For those situations that would result in a modified unqualified opinion, determine the format of the appropriate report. Assume any effects on the financial statements are material. (Please use the following key (e.g., Ã¢â‚¬Å“AÃ¢â‚¬Â) for your answers: A-F). Do not copy the rule itself into your student answer packet. Select from the options provided:A = Not modified unqualifiedB = Modified unqualified: change all three paragraphsC = Modified unqualified: explanatory paragraph before opinion paragraphD = Modified unqualified: explanatory paragraph after opinion paragraphE = Modified unqualified: explanatory paragraph either before or after opinion paragraph1. The client has changed from accelerated depreciation to straight-line depreciation. The change had the result of improving the companyÃ¢â‚¬â„¢s bottom line.2. Another auditor audits a subsidiary of the client, and the auditor decides to divide responsibility.3. The client and another entity have developed a unique method of doing business together and current accounting policies donÃ¢â‚¬â„¢t adequately reflect the substance of the related transactions.4. The auditor concludes the client is on the verge of bankruptcy due to a significant competitive threat.5. The client has changed from a LIFO to a FIFO cost flow assumption to better match the actual flow of its inventory.6. Another auditor audits a subsidiary of the client and the auditor decides to assume responsibility.7. The client is suffering from a severe cash flow shortage, but has arranged for a loan from the bank that will alleviate this problem.8. The client is a component of a larger entity, and the auditor wishes to alert the readers of the financial statements to this fact.
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