For each situation presented below, match it to the type of audit opinion that should be issued. The audit client's year$-$end is December $31,2023.$

Prompts

As described in Note $14,$ subsequent to year$-$end, there was a fire at one of the client's main manufacturing facilities.

There was a disagreement with the Controller over the accounting policy used to record its investment in a subsidiary company. The Company has not consolidated its subsidiary and the investment is accounted for using the cost basis. Had the subsidiary been consolidated, many elements in the financial statements would have been materially affected.

When auditing inventory, the auditor was denied access and could not attend the inventory counts performed on Dec $29$ in the client's $3$ remote warehouses, which contain approximately $50\%$ of the ending inventory balance.

Answers

Unmodified Opinion $-$ Emphasis of Matter

Unmodified Opinion

Adverse Opinion

Disclaimer of Opinion

Qualified Opinion