The following are independent situations for which you-the auditor - will recommend an appropriate audit report:

1. Your client has followed approved accounting standards but a note to the financial report indicates the early application of an accounting standard that has a pervasive effect on the financial report in advance of its effective date. The note details the reasons for this view. You, as the auditor, concur that this additional note disclosure is necessary to give a true and fair value.
2. During the course of your audit of the financial statements of a corporation for the purpose of expressing an opinion on the statements, you were refused permission to inspect the minutes of board ofdirectors' meetings that document significant decisions of the board. The corporation secretary instead offers to give you a certified copy of all resolutions and actions involving accounting matters.
3. You are engaged in the audit of the financial statements of a large manufacturing company with branch offices in many widely separated cities. You were not able to examine count the substantial undeposited cash receipts at the close of business on the last day of the fiscal year at all branch offices.
4. As an alternative to this auditing procedure used to verify the accurate cutoff of cash receipts, you observed that deposits in transit as shown on the year-end bank reconciliation appeared as credits on the bank statement on the first business day of the new year. He was satisfied as the cutoff of cash receipts by the use of the alternative procedure.
5. On January 2, 2020, the Retail Auto Parts Company received a notice from its primary supplier that effective immediately, all wholesale prices will be increased by 10 percent. On the basis of the notice, Retail Auto Parts revalued its December 31, 2019, inventory to reflect the higher costs. The inventory constituted a material proportion of total assets; however, the effect of the revaluation was material to current assets but not to total assets or net income. The increase in valuation is adequately disclosed in the footnotes.
6. E-Lotions.com, Inc., is an online retailer of body lotions and other bath and body suppliers. The company records revenues at the time customer orders are placed on the website, rather than when the goods are shipped, which is usually two days after the order is placed. You determined that the amount of orders placed but not shipped as of the balance sheet date is not material.

Required:

a) For each of the above situations, state the type of audit report that should be issued and justify your opinion.

b) Discuss the relationship between materiality and auditor opinion.