MCQ

Question 4. Pastrami operates four Italian "take away" shops. Inventory amounts to 15% of the company's total assets at the reporting date. Management performed a full year end inventory count but did not allow the auditor to attend. The auditor has been unable to perform alternative procedures regarding the completeness and existence of inventory Which of the following audit opinions should be issued? O Disclaimer of opinion as the matter is pervasive Unmodified with an emphasis of matter paragraph O Qualified except for'a material misstatement O Qualified 'except for an inability to obtain sufficient evidence