i. The general manager of a small company recently said: We need to have an external auditor

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i. The general manager of a small company recently said: ‘We need to have an external auditor for our financial statements so we can guarantee their accuracy to our bank.’ Will that be the result if an auditor is appointed? 

ii. An auditor cannot obtain sufficient evidence as to the valuation of an asset. The rest of the financial statements are found to present a true and fair view in accordance with accounting standards. What type of audit report would be issued?

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