Refer to the Report of Independent Auditors of Unilever N. V. and Unilever PLC, signed on 5 March 2013 (see the appendix to this chapter).

Required: Identify the features in the above audit report that are unique to an MNC.

ISA 700 describes three types of audit opinions that can be expressed by the auditor when an unqualified opinion is not appropriate: qualified, adverse, and disclaimer of opinion.

Required: What are the circumstances under which each of the above three opinions should be expressed? ISA 700 is accessible from the IFAC Web site (www.ifac.org).