The following are independent situations relating to the year ended 30 June 20X0. Assume all entities are reporting entities and that all situations are material.

(a)

You are finalising the audit of GF Limited (GF), a large proprietary company which exports grains and cereals to most regions of the world. Subsequent to balance date, regional tensions in the Middle East saw orders plummet by over 40 per cent. The fall in profit placed GF in breach of the conditions of its bank loan. Not wishing to risk losing its money, the bank placed a freeze on GF's bank account and other assets, rendering GF unable to trade. These circumstances are adequately disclosed in a note to the account.

(b)

The audit of CF Limited was extremely difficult this year as the client did not keep appropriate books and records. The accounting department was chronically understaffed, so transactions were not promptly entered and reconciliations not performed. A temporary accountant was employed to help sort out the mess but was unable even to reconcile the bank account at year-end You are not satisfied with all transactions that occurred during the year are reflected in the financial report.

(c)

You have received the draft annual report from AB Club Limited. On reading the 'Year in Review' you note the club chairman states that revenues increased by 150 per cent. On checking the accuracy of this information you note that revenues have actually fallen by 10 per cent. The club refuses to change anything in the annual report for fear of missing printing deadlines.

(d)

The depreciation rates used by BPL Pty Limited (BPL) have not changed for the past three years. Given recent technological changes in the industry in which BPL operates, you are convinced the useful lives of BPL's assets need to be adjusted downwards. The directors refuse to make this change despite the fact that you have explained this places them in breach of AASB 1021, 'Depreciation'.

(e)

The original financial report of RI Limited was released to shareholders in early August. A few days later management informed you that, prior to the time of completion, they received notice of legal action being taken against them. Unfortunately, this fact was omitted from the financial report and was not detected by your audit procedures. Despite the costs involved, management insists on recalling the original financial report, including appropriate disclosures of the legal action and issuing a new financial report.

(f)

RS Limited has extensive overseas operations and accordingly has many overseas bank accounts. You were unable to obtain bank confirmations for two of these accounts, and the latest bank statements available to you are over three months old.

Required

Assuming the matters remain unresolved, discuss the audit opinion you intend to issue for each of the above entities for the year ended 30 June 20X0.