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Levine, CPA, is auditing the financial statements of a nonissuer. In auditing the long-term investments account, Levine is unable to obtain audited financial statements for
Levine, CPA, is auditing the financial statements of a nonissuer. In auditing the long-term investments account, Levine is unable to obtain audited financial statements for an investee located in a foreign country. Levine concludes sufficient appropriate audit evidence regarding this investment cannot be obtained. For each of the situations listed in the table below, identify the appropriate opinion type and report modification by clicking in the associated cell and selecting from the option list provided. A B D E 1 Auditor's Responsibility Section Situation Opinion Type Opinion Section Basis for Opinion Section Assume the potential effect on the financial statement is immaterial Unmodified No change No change Omit 3 Assume the potential effect on the financial statement is moderate Qualified Modify Modify Modify E 4 Assume the potential effect on the financial statement is high Disclaimer Modify Modify Modify
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