SM Partners, LLP has taken on a new client during 2023, Perfect Polaroid, Inc., an issuer. PPI was audited by GMPK, a large public accounting firm, from 2018-2022 but chose to switch auditors in the current year due to disagreements with the previous auditor, including the reasoning for a qualified opinion issued in 2022. As required by law, PPI prepares and presents comparative financial statements at the end of 2023, including balance sheets for 2023 and 2022, and income, retained earnings, and cash flow statements for the years ended in 2023, 2022, and 2021. In an attempt to remove the stigma associated with their previous audit opinion, PPI requests that SM Partners does not present the report of GMPK in their current audit report. Required: Research the appropriate authoritative guidance and discuss the reporting requirements for SM Partners, LLP for the current year audit (2023). Cite the appropriate guidance used to determine your answers and include screenshots in your response. Your written response should be approximately 1-1 page in length, not including screenshots.