are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain absolute assurance about whether the financial statements are free of material mistakes. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. KPMG December 31, 2017 1. What is the type of audit opinion? 2. Identify all deficiencies in the report and suggest all required corrections. (Do not rewrite the report). > !!! > 10pt !!! A 5 11 2 IX For the toolbar, press ALT+F10 (PC) or ALT-FN-F10 (Mac). BIVS Paragraph Arial X X, BT Te + 9 H o 6 i. 11 15 obit too and mit Clio Sue All Answers to save all answers. Question completion SERT QUESTION 11 points An audit report prepared by KPMG is shown below. The audit for the year ended December 31, 2017 was completed on February 25, 2011, the report was me to Twvco Corporation.co April 15, 2018 Report of independent registard public accounting firm To the Management of Travaco Corporation Opinion on financial statements We have audited the accompanying balance sheet of Travaca Corporation as of December 31, 2017, and the related statements of income, retained earings, and cash flows for the year then ended. In our opinion, because of the effects of the matters discussed in the following paragraph, the financial statements referred to above do not present fairly, in conformity with generally accepted accounting principles in the united states of Amirca, the financial position of Travaco Corporation as of December 31, 2017. the results of its operations and its cash flows for the year then ended. The company has excluded from property and debt in the accompanying balance sheet certain lease obligations that, in our opinion, should be capitalized in order to conform with generally accepted accounting principles. If these lease obligations were capitalized, property would be increased by L.E14,500,000, king-term debt by LE 13,200,000, and retained earnings by LEI,300,000 as of December 31, 2008, and net income and earnings per share would be increased by L 61,300,000 and LE 2.25, respectively, for the year then ended Basis for opinion These financial statements are the responsibility of the company's investors. Our responsibility is to express an opinion on these financial statements based on our audit. We are a publie accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB Save Allowers Save Click Save and Submit to save and submit. Click Save All Answers to see all answers