A CPA is engaged in the audit of financial statements of a large manufacturer with branch offices that are widely dispersed. This CPA is not able to count the substantial undeposited cash receipts at the close of business on the last day of the fiscal year at all branches. As an alternative to this procedure to verify the accurate cutoff of cash receipts, the CPA observes that deposits in transit as shown on the year-end bank reconciliation appeared as credits on the bank statement on the first business day of the New Year. Based on this, the auditor was satisfied as to the cutoff of cash receipts.

Which type of audit report would you suggest being issued this year and why?