Auditors opinion regarding companys financial statements, conditions and performance are based on mandatory requirements under the Corporation Act 2001. For each of the independent situations below determine the appropriate audit opinion to be issued. Provide justifications to support your audit opinions.

Your client has several bank accounts one of which is in a foreign country. Cash balances total $760,000 with the account maintained in the foreign country totalling some $530,000. You have been unable to obtain a bank audit certificate or any third party confirmation with respect to the foreign bank account. The client has been unable to supply you with bank statements or other supporting documentation in relation to this bank account. Materiality for the client has been set at $470,000. All cash balances are classified as current assets in the clients financial statements.