Auditing

For each of the following independent situations, determine the type of opinion that will most likely be issued by the firm auditing the financial statements of a U. S. Company.Also include why you selected the opinion.

1. The client will not allow the auditor to view the minutes for the entire year under audit and beyond.

2. The auditor finds that the firm is not independent of the client on the last day of fieldwork.

3. The client declines to include a statement of cash flows in the financial statements.

4. The client fails to record an immaterial amount of insurance paid in advance as an asset.

5. The client does not record impairment of goodwill and will not depreciate property andequipment. Both are considered very material.

6. There is substantial doubt about the clients ability to continue as a going concern.