For each of the following situations, indicate the type of opinion(s) that auditors could issue in the audit of an issuer (more than one opinion may be appropriate in each circumstance) Unless otherwise noted, assume that no departures from GAAP were identified in the audit engagement. In addition, indicate how the standard report would be modified, if appropriate 1 The audit team has identified an immaterial departure from GAAP in their examination, but the entity has not adjusted its financial statements for this departure or disclosed this departure in its financial statements or disclosures 2. Because they were appointed to the engagement after the date of the financial statements, the audit team has experienced a significant scope limitation and was unable to perform standard auditing procedures used in their engagements. The accounts) affected by this scope limitation were material and pervasive. However, the audit team has been able to completely satisfy themselves as to the faimess of the related account balances a 3. 4 footnotes to the rationale for the ing the year, the entity changed its method of acced classes of transaction by performing alternative procedures. a for i the change entries from the and properly. However, the audit team does not agree with the the change and believes that it was made to report a higher level of earnings Subsequent to a because in team determined that they a t to accepting the chent held by a newly admitted partner to the audit fim y are not independent with respect to the client 5. Evidence gathered during the audit examination and inquiry of the client's management revealed substantial doubt about the client's ability to continue in existence. The audit team believes that the client has appropriately disclosed the going concer uncertainties in its financial state I statements and footnotes 6. The auditors wish to emphasize the company's acquisition of two large subsidiaries during the most recent year 7. The auditors have engaged component auditors to conduct a portion of the audit but do not wish to assume responsibility for their work. The auditors have not i tors have not approached the component auditors about presenting their reports with the company's financial statements and do not plan to do so The client has not recognized a material loss related to a decline in the market value of its investments. Because the audit team believes this decline in value is not temporary, they believe the financial statements do not present the client's financial position and results of operations in accordance with GAAP 9. The audit team has experienced a significant scope limitation and is unable to satisfy themselves as to the fairness of the affected account balances through alternative procedures. Part Opinion 1 2 3 4 5 E 2 B Opinion on the Financial Statements Section Basis for Opinion Section Critical Audit Matters Section Additonal Section or Paragraph Matters Section Additional Section or Paragraph Other Report