Coleson is practicing on his own account and has audited the books of the Koltron Company for many years. This year, as a result of a press of duties, he is able to spend only enough time to read the statements prepared by the treasurer and the chief accountant of Koltron Company. From his many years of work for this client, during which time no fraud or defalcations had been discovered, he believes that is sufficient to permit him to give an unqualified opinion on this year's statements. Is this permissible?