In auditing the long term investments account, Daniels, CPA is unable to obtain audited financial statements for an investee located in a foreign country. Daniels concludes sufficient appropriate audit evidence regarding this investment cannot be obtained. For each of these situations listed below, identify the appropriate opinion type from the options provided. Assume the potential effect on the financial statements Is A. GAAP Immaterial. B. Disclaimer Assume the potential effect on the financial statements is C. Adverse moderate Assume the potential effect on the financial statements is D. Unqualified high E. "Except for qualified Is the senario presented a GAAP issue or a GAAS issue? F. GAAS In planning an audit, the auditor's understanding of the client and its environment, including internal controls should be used to: O A. Determine whether controls have been circumvented by collusion, O B. Assess the operation efficiency of internal control. O C. Assess risk of material misstatement. O D. Document the assessed level of control risk