Consider the following individual circumstances. In each case, auditor has identified the following facts from his audit of the company as on the year ending 31 December 2019.

Required:

Identify what type of Audit opinion should opinion be expressed. With proper justification.

1. While conducting the audit of the inventories, auditor is unable to attend the physical verification and count of the inventories amounted OMR 350,000. The auditor was tried to use the alternate method of count and verify the inventories but auditor unable to obtain the satisfied results. (2.5 Marks)

2. While performing the final audit of the company, the auditor observed that company has not followed the IFRS to prepare the financial statements. (2.5 Marks)

3. Because of the covid-19 your client company shares are collapsed in the stock exchange and the companys net assets are OMR 200 million. The financial reports for the year show a true and fair view of the financial position. (2.5 Marks)

4. One of your client company is did not maintain the proper books of accounts records during the year because of non-availability of experienced accountant. The accounting records were not at all maintained first seven months of the financial year. An accountant was appointed by the company and he tried to prepare the books of accounts and reconstructed the records from the details available from the existing staff, the accountant has unable to prepare all the accounts properly and Auditor is not satisfied with the financial statements. (2.5 Marks)