Smith, CPA, washired to perform an audit of the financial statements of Apple, Inc. Apple's management would
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Smith, CPA, washired to perform an audit of the financial statements of Apple, Inc. Apple's management would not allow Smithto confirm any of the A/R. All other audit procedures were performed as considered necessary by Smithand no problems were found. However, the CPAwasunable to satisfy himselfwith regard to the balance in A/R.
What type of audit report on the company's financial statements should be issued? Why? Finally, if your report would be other than the standard unqualified report, state which paragraphs, if any, of the standard audit report would be changed.
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